The and other indicators see a bit of an overbought situation here in Crude Oil .
I go short with a target of below 60 US$.
Wether my analysis is right or wrong I will loose confidence above 65 US$.
Good Luck ;)
above the recent highs. So by the end of this week we could as well see
66 USD and the bulls will be back in game. It cannot be ruled out.
IF NOT though the stage is set for a longer decline. And this is my
favored scenario :).
So the week end will be crucial.
Again a push towards 66.50 USD is possible and this could easily be achieved in this week.
I'd rather see a fall towards 60 USD though, but I've never seen the market care for what I want :)))
I close all shorts!