Oil Decision Point 2020

23 בפבר׳ 2020

Here is a weekly chart of oil... a longer term perspective of sort. The levels identified here and the momentum swings over the course of 35 years or so, are maybe setting up a Decision Point in 2020. The levels to watch is the channel between 42 and 77 dollars as well as the multi year wedges forming in both price and momentum. Anticipating anther big move one way or the other. How price and momentum act from here to the end of the year will determine breakout direction. Current price action I think is at an equilibrium.