Bearish Long term Formation Crude Oil

13 avr. 2020

Crude has been making lower highs consistently since the 2008 crisis. Adding to that we have immediate demand collapse due to the virus but also long term move to renewables and greener sources of energy. The weekly chart has a long term bearish triangle pattern. Expect long term support sub 20 and price oscillations till 2021 within the wedge. Currently neutral but good short on decent move toward upper range of triangle.

13 avr. 2020

Note

Desperate tweet : twitter.com/realDonaldTrump/status/1249691637040795654?s=20

29 avr. 2020

Note

Rebound just off long term support - it seems we have found a floor