USOIL CHART BECAUSE LONGS TEND TO UNWIND SLOWER
First wave of sellers RSI weakness from prior highs says the big boys are waiting to get back in after a correction which always occurs after lofty runs extremely overbought indicators and unprecedented buying by speculators. Rate hikes looming should support the dollar somewhat going forward. The oil markets don't like rate hikes. Looking for a 7-10 % correction in crude only given the fact that the OPEC cabal seems to be sticking together (For now). Otherwise I would be looking for 20%. I mean really?
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