Chart is self-explanatory.
We have been crashing since 2008 and doing 70% retraces of each fall. Once a retrace is completed at $81-83 from our second fall in 2014, the crash will resume taking us back to $43 per barrel. At that point, we can determine if we are going to find support, then resume higher, or continue crashing lower.
We have been crashing since 2008 and doing 70% retraces of each fall. Once a retrace is completed at $81-83 from our second fall in 2014, the crash will resume taking us back to $43 per barrel. At that point, we can determine if we are going to find support, then resume higher, or continue crashing lower.
Note
Well... that happened a lot faster than I expected, lol.Note
Target was hit, significantly faster than I expected. Now time to let it play out for a little while and see if we are setting up for a crash down to $15 or if we are going to move up higher.Note
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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.