After a great rally usually comes a consolidation phase. Let the price come up all the way to 55. This might last until end of May or mid June.
Once the buyers have left the table and no new buyers will be found the price will reverse back to the 47.30 price.
The idea is that Oil will stil be in oversupply and production with non OPEC countries will pick up pumping regardless of what OPEC might dictate.
Sell short from 53.95 after confirmation
Once the buyers have left the table and no new buyers will be found the price will reverse back to the 47.30 price.
The idea is that Oil will stil be in oversupply and production with non OPEC countries will pick up pumping regardless of what OPEC might dictate.
Sell short from 53.95 after confirmation
