US Oil Retracement (61.01/bbl sept 2019)

Penjualan

Crude Oil Futures (Jun 2019) (NYMEX:CLM2019)

Diupdate

NYMEX:CLM2019 Crude Oil Futures (Jun 2019)

trendanalysis indicator beyondta oil usoil usoilshort oilforecast oilfutures oilshort oildowntrend

We should expect to see oil drop. We are approaching almost oversold conditions (RSI), Stochastic is showing the cycle is coming to an end. It's a safe bet we will retrace to the nearest Fib level, which is currently at 61.01/bbl. Time frame: end of September of 2019 into the winter months. This trade is aligning off my prior trade I posted in February for July with 67/bbl price target. Oil companies have to make money this summer, so we should expect to see the price stay relatively the same, and then start cracking to the fib level.

Trading ditutup: target tercapai

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