Multiple Technical factors suggest the "MOST LIKELY" scenario is a down move for oil 0.73% in the coming weeks to months: - A retest of major long term trend line ( from 2008 all time high) - A retest of major long term price barrier at 75/barre - Divergence between Copper 1.34% and Oil 0.73% for more than 10 months. - Swing failure technical setup on Relative strength index indicator. Note: nearly 80% of the head and shoulders bottom ideal target was reached.
Nota
Warning new development: Saudis threaten that if punished over Khashoggi they will react. That might push oil prices higher in the short term before any plunge.
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