Ladies and gentlemen, due to the price jump and the emergence of Squeeze, we expect the price to go down if the price of 95 is breached
Crude has dropped to $106, but is holding strong at this level. News of the potential for peace in Ukraine has already lifted stocks this morning, and will put further pressure on oil which has already retraced from highs nearing our target at $132. The Kovach OBV has slid quite a bit, suggesting a bear divergence. We will see if the $100's hold as exuberance over the Russia/Ukraine war deliquesces into the oil market. Watch $101 and $100. If those do not hold, we have a vacuum zone down to $96.88.
Crude has dropped to $106, but is holding strong at this level. News of the potential for peace in Ukraine has already lifted stocks this morning, and will put further pressure on oil which has already retraced from highs nearing our target at $132. The Kovach OBV has slid quite a bit, suggesting a bear divergence. We will see if the $100's hold as exuberance over the Russia/Ukraine war deliquesces into the oil market. Watch $101 and $100. If those do not hold, we have a vacuum zone down to $96.88.