I was looking at past data and doing some analysis and looks like we are going to be in the range as mention in the chart - the blue lines...we may have a moment of Euphoria with a touch to 40 and cross over that but will return to the safe zone ...I will track to see if we break this zone ( the lines are just approximations not daily targets) the upper and lower limits are important.
Happy and safe trading.
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Chief_Tardis
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Nailed it ! oh yes !
sacrelege
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I'll leave just my chart here, maybe it gives you additional ideas.
tbuckle
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So you think we get nocked down in-between those two yellow lines or....?
sacrelege
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First it needs to break the orange line, which should give oil more momentum. Then if it really breaks the upper yellow line, it means the downtrend has come to an end and we're in an uptrend. Somehow the fundamentals doesn't fit in very well and more and more I believe someone/group is heavily invested in oil companies and pushes the oil price to unload the shares, after which point, oil will drop again. Also the rise seems a bit too steep to be sustainable. But I'm inexperienced in trading oil/commodities... Letz see how this plays out :)
tbuckle
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Sounds extremely true and congruent with what I am hearing/reading, etc.