Oil is at a really interesting position at the moment.
Given the fundamental fear in the market from last week that saw a 12% drop on Friday, it presents some interesting opportunities. Has this been a correction on the recent rise from August to November up to $85, that's just been accelerated, stopping between the 0.618 - 0.786 Fib levels.
From a technical perspective Oil has spent 2021 bucking a multi year down trend. Has it reached its peak for 2021?
I'm looking for scale in opportunities on smaller time frames to indicate buy or sell, scalp opportunities as the market fluctuates and pulls between Bears and Bulls.
My overall perspective remains bullish as the economic recovery continues. A break of 76.5 as a resumption of bullish bias in the market.
Given the fundamental fear in the market from last week that saw a 12% drop on Friday, it presents some interesting opportunities. Has this been a correction on the recent rise from August to November up to $85, that's just been accelerated, stopping between the 0.618 - 0.786 Fib levels.
From a technical perspective Oil has spent 2021 bucking a multi year down trend. Has it reached its peak for 2021?
I'm looking for scale in opportunities on smaller time frames to indicate buy or sell, scalp opportunities as the market fluctuates and pulls between Bears and Bulls.
My overall perspective remains bullish as the economic recovery continues. A break of 76.5 as a resumption of bullish bias in the market.