Oil ... short term idea

Short term idea, nice cup/handle forming, needs a 50% retrace to validate, and an overlay of last years price, same time period for reference.

Expect near term short oppty, and then perhaps a prolonged decline for the season, or a snap back up to $52 then a decline.

... but here is the chart anyway.

the normal caveats for oil follow... geopolitical risks, major currency issues.. you get the idea.

Commentaire:

continued movement above trend break