In 2018 we had a drastic initial fall of oil from $77 per barrel to $42. We completed the .702 retrace back to $66.50 earlier this year and are now building a descending triangle for the next leg down. The initial target of the triangle is to $34.50. However, our final target is likely much lower... below $10.
Here is my previous warning on oil that I published on October 22, 2018, titled: "USOIL is Still in Crashing Pattern Since 2008"

In this idea I identified the exact bounce spot of oil, and I mentioned that we would need to wait for a setup to identify it's next move.
Well, we have it. It retraced the fall, and built a descending triangle. It's going lower.
Idea is invalidated if we break above $61.
Good luck.
Here is my previous warning on oil that I published on October 22, 2018, titled: "USOIL is Still in Crashing Pattern Since 2008"

In this idea I identified the exact bounce spot of oil, and I mentioned that we would need to wait for a setup to identify it's next move.
Well, we have it. It retraced the fall, and built a descending triangle. It's going lower.
Idea is invalidated if we break above $61.
Good luck.
註釋
It looks like an avoidance of the crash has magically shown up. Interesting times are brewing in Saudi Arabia.免責聲明
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免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。