US OIL: Setting up for a rise??
Updated
If the dollar keeps dropping I would think that would support a rise in oil as well as the precious metals. I see the form of the current drop from 1 to 2 as a corrective form and with the yellow target box now being hit. IFFF it holds above the recent low of about 44.16 I am looking for wave 3 up to start with likely a total of 5 waves up eventually to finish wave C. Personally will be taking a small long position soon with addition if recent support holds and short term down trend line broken. Process your own way. Hope this is helpful. Feedback appreciated.
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seekingalpha.com/article/4019465-big-short-squeeze-coming-oil-market-ahead-opec-meeting-videoComment
If 44.16 doesn't hold today then next support level 42.72.Trade closed: stop reached
Trade closed: stop reached
seekingalpha.com/news/3221322-reuters-saudi-arabia-threatens-lift-oil-production-latest-row-iranRelated publications
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