donaitelo

USOIL - It is time for the next bullmarket

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FX:USOIL   原油差價合約(WTI)
Hello everyone, first of all, we have been in such a long bear market, since July 2008 147$, we haven't made a new higher high, but we managed to make lower lows, which means that we are currently in a 12 year bear market. We have been moving inside a falling wedge, and even though we could go to the top of the wedge and then make another fall like the one we had now, I really don't think we will fall again to 10$ . We fell so much, because of the virus, that caused the lockdown, the price war between Saudi Arabia and Russia and also the fact that we are in a 12 year bearmarket, made the effect even more devastating. Such events happen probably once in a lifetime, so because of all those reasons, I do think that we have reached the bottom at around 10$-13$ and that we will break through the falling wedge and make higher highs and go into a bullmarket. Good luck to everyone!
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