WTI H4 Jan contract end of week
Since the Green Arrow appeared on Dec 4, WTI has advanced ~300 pips, reaching the 60 level, but not closing above. The EMA20 line supported the advance. Perhaps 60 will be breached next week.
As long as the equities markets do not run out of Greater Fools, they may pull oil higher.
Demand slippage is reality, while artificial efforts are made by producers to support prices. How long can reality be ignored by oil and equities?
Since the Green Arrow appeared on Dec 4, WTI has advanced ~300 pips, reaching the 60 level, but not closing above. The EMA20 line supported the advance. Perhaps 60 will be breached next week.
As long as the equities markets do not run out of Greater Fools, they may pull oil higher.
Demand slippage is reality, while artificial efforts are made by producers to support prices. How long can reality be ignored by oil and equities?
Attached Image (click to enlarge)
3
, have the weekly indicators plotted and recent patterns have produced up and above 2000 points move, currently the move is 500-600 points in and see this going to $70, now here's the snag, the cycle, and not to be taken as a given, has completed if the boundaries are to be be believed with the high of $77 in 2018, the lower has not been touched, (although, they were 3 times in succession 15/16 so it can happen) with that in mind we could well see the target without a completed cycle, bye the way, the outer boundaries are at $35, D
