WTI Crude Oil (USOIL): Not Bullish on Oil
SUMMARY
Reposting from downvote.
I'm not bullish on the WTI Crude Oil price to rise too much further than current levels. Primarily because the correction that started after the 5th wave extension is probably not yet complete. The below chart shows that the downdraft red A was swift and the red B retraced nearly 0.618 Fib level. Since then, the subwaves of red C has been being placed so that currently, red 4 might be getting its final touches. The upward wedge is also bearish. The final red 5 could equal the prior wave 2 of the impulse; which is much lower than the subwave 2 of the extended 5th.
Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.
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Wow!!! Just had to REPOST THIS - such in depth post just so you could go ahead and make your $150/min Steemit Posting Salary - Pathetic!
If I had 100k SP or even 1000 SP I'd use a vote daily to Downvote at least one of your grreed ridden posts
"Take your UPVOTE and turn it Upside Down - well for this user at least and give em a Downvote
Use your precious votes for curating actual good content by people with less reputation than you and helping the Steemit community.
You likely will receive maybe .5 vests for curating this post -
Wake up Peeps"
I think that an increase in production does not allow oil to grow.
Thanks for informing.
interesting o.o
Interesting @haejin, as always, reading and instructing for decision making, excellent I congratulate you, THANK YOU for sharing!
Interesting article. I subscribed to you. Subscribe to me. Let's be friends
If oil prices go down to such an extend it will mean yet another global recession! Oil will not go down in isolation....
what about gold backed currencies ???
https://inteldinarchronicles.blogspot.com/2018/03/russia-china-roll-out-100-gold-backed.html