WTICOUSD There was once a game show called 'Play Your Cards Right', hosted by the late, great, Bruce Forsyth. I remember when it first aired in 1980 and before the Internet was born and streaming existed. We all gathered around the one TV in the house and had family time. Some were lucky and had a colour TV. Yes I am that old. Bruce would on the game show turn cards over and the audience would shout, Higher! Lower!This forum resembles that at this moment.
I think oil is in stalemate. Between OPEC raising output to meet demand and forces trying to make this cheaper. In between announcements and data, Oil is stuck in a petrified state. On the 8H it is clearly bullish and the last move was a retrace. However if we break through 79%, we will continue down and the retrace is invalid.
We also have a huge unfilled gap between 69.50 and 74.50 (WTI)
Trade with Caution.
