US OIL is coming into multiple resistance area. Not only is demand not there to support prices (Airlines, working from home as examples)
Higher rates, stronger dollar, & pre covid price benchmark with 3.4% unemployment
do not support rational price levels. Key word RATIONAL. I remain bearish in oil.
Higher rates, stronger dollar, & pre covid price benchmark with 3.4% unemployment
do not support rational price levels. Key word RATIONAL. I remain bearish in oil.
Kommentar:
After completing an ABC wave up into resistance OIL has struggled against long-term resistance.
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I am sorry to PEAK OIL it's going to $100 crowd.