Is this just a quick and strong rebound in response to the violence that oil experienced during the recent downturn?

Crude oil analysis forecast

as I wrote the last post: Does the violence that oil has experienced in the past two months come back like a boomerang?

yes, we got it – what next?

it all starts here: Oil is crashing – The marks were on the wall

Crude oil technical analysis
It is the first time that price has traded above the white band!
After the big jump last month, the trend has changed to bearish and 42 $ oil price level became support level, now we need to watch on 54 -55$ price area that may become short-term resistance area
I am expecting to see retracement on those level to check again 48- 49$ price area
Break above 55 +_ levels  price will send crude oil to cope with the 58-60+_ price level, while stay below  48 $ those levels will  show us that this was just a correction  for the  big journey down, oil experience since 76$

This review does not include any document and/or file attached to it as an advice or recommendation to buy/sell securities and/or other advice

Leave a comment