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Brent Crude rally ends, time for the big Bear!


Mercury

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As mentioned in my USDCAD post, I am Long Oil off the Fib 76/78% hit and pin bar bounce.  There is obviously still a chance that price will come back and close the daily chart gap and maybe hit the Fib 88% however I feel that either way this market is setting up for a strong rally phase.  If we do see a top out and turn on USD that would serve as additional impetus to an oil rally but isn't necessary.  However if that USD move I am tracking does materialise then the Oil rally could be fast and furious.  Equally USDCAD could be amplified in that eventuality too.Brent-4-hours_250220.thumb.png.98c21bf14e2553d5cd85928daa7fd629.png

 

 

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On 06/03/2020 at 12:20, dmedin said:

Oil @ 45 bucks?

1443132322_Oil-BrentCrude_20200306_12_20.thumb.png.8d0d887d86153c8929dfab3dc7eec1e6.png

I called oil $40 or less on 3rd Feb, now to be bold $72 IN 6 MONTHS and Dow 60000 18 months

 

On 24/02/2020 at 14:30, dmedin said:

If so then buy it at the bottom :D

may take a few weeks to true bottom,peek a troughs first

On 06/03/2020 at 12:20, dmedin said:

Oil @ 45 bucks?

1443132322_Oil-BrentCrude_20200306_12_20.thumb.png.8d0d887d86153c8929dfab3dc7eec1e6.png

 

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