Long oil (again?)

2020年3月2日

Last time the price was below 50 mark back in Dec 2018 which was followed by a quick recovery to 56-58. I believe something like that might happen again. This time however I dont expect the price to go above 60

2020年3月2日

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So far so good. The price rejected 44-45 area and surged almost +5% to 47.50 closing above mid-line of descending channel which both obviously are good signs. However this is still technically a downtrend

2020年3月4日

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This definitely a setback. The price has failed to break thought 48 so far, but overall the situation is in line with the template.

2020年3月6日

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Not looking good. The inability to break though 48 resulted in significant price drop. There is still a chance, but I am not happy about what I see

2020年3月6日

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I cant believe this is happening, but it is over. Third time in a row, very unfortunate.
What next? Well. It is really good question. The price might fall to 25-30 before making a bottom and maybe by mid-summer recover to 50-55