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BLUE LINE - Last Support For Crude Oil

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Is this it? Headed into the end of 2023 - are we going to see Crude Oil fall below $76 ppb as COVID & economic concerns trap the global economy into a contraction phase?

My research suggests Crude Oil will attempt to find support near $63 to $65 before attempting to bottom. From current levels, this suggests a -$30 ppb downward price trend is likely.

Two things are likely driving this trend:

Lack of global demand
Inflation/Price concerns

Has the current Flag/Pennant reached the APEX and is price attempting to break downward?

Time will tell...

Follow my research.
BradMatheny
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Também em:
Beyond Technical AnalysisCrude Oil Futures WTI (CL1!)Crude OileconomyEnergy CommoditiesglobalmarketTechnical IndicatorsOilStocksTrend AnalysisXOP

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Beyond Technical AnalysisCrude Oil Futures WTI (CL1!)Crude OileconomyEnergy CommoditiesglobalmarketTechnical IndicatorsOilStocksTrend AnalysisXOP
BradMatheny
Get More Great Research & Tools
-- Special TradingView Tools
-- Automated Trading Systems
-- Proprietary Algos/Signals
-- More..

Join Ment.Com Expert Growth Today

Get Some.
Também em:

Aviso legal

As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.