OIL FORMING A HEAD & SHOULDERS PATTERN, TARGET $15
Looking at the monthly chart of USOIL, seeing a giant H&S pattern forming following our 2020 - 2022 rally & the blow off top of June 2022.
The monthly stochastic RSI death cross could also add further fuel to the fire
Looks like high interest rates could bite demand for oil hard in 2024 if rates are not cut anytime soon.
Ps, Tesla could be one of the catalysts for oil's next crash
The monthly stochastic RSI death cross could also add further fuel to the fire
Looks like high interest rates could bite demand for oil hard in 2024 if rates are not cut anytime soon.
Ps, Tesla could be one of the catalysts for oil's next crash