USOIL
OIL has opened this trading week with a bullish impulse, currently oil is fighting on a bullish zone which requires a lot of drive to break through the zone. With many bank holidays and coming up to the final few trading weeks of the year I see oil pulling back to gather momentum to take it to the next high when the markets get back into the swing of things after the new year. Oil has broken out of a wedge which also needs testing before the next move...I expect dips back towards 70.70 before we see the real move coming.
I currently have a short running and the set up will be posted soon. I will not be longing oil until we see a large dip and clear rejections of 70.70.
OIL should be bullish into Q1 and Q2 with the rise of inflation...get ready.
OIL has opened this trading week with a bullish impulse, currently oil is fighting on a bullish zone which requires a lot of drive to break through the zone. With many bank holidays and coming up to the final few trading weeks of the year I see oil pulling back to gather momentum to take it to the next high when the markets get back into the swing of things after the new year. Oil has broken out of a wedge which also needs testing before the next move...I expect dips back towards 70.70 before we see the real move coming.
I currently have a short running and the set up will be posted soon. I will not be longing oil until we see a large dip and clear rejections of 70.70.
OIL should be bullish into Q1 and Q2 with the rise of inflation...get ready.
