Search
Products
Community
Markets
News
Brokers
More
EN
Get started
Community
/
Ideas
/
Oil complex - something is rotten
Brent Crude Futures
Short
Oil complex - something is rotten
By guidoamm
Follow
Follow
Updated
Sep 9, 2020
1
Cheer
Cheer
Aug 12, 2020
On daily charts, I can see any number of head and shoulder formations incudling on the ETFs
The monthly WTIC chart is looking like.... the last gasps of a dying industry? Is that possible?
I can see how commodities in general will rally in the medium term. The oil chart however says this is a secular decline....
I am short the oil sector till I will no longer be...
Sep 9, 2020
Comment
I think this break has legs. At least till the end of the year, the Covid19 hysteria will keep a lid on oil demand.
Also, I can see a decline in the general market till at least the American election.
The oil patch not looking so healthy.
Chart Patterns
Trend Analysis
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the
Terms of Use
.