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Veejahbee

Crude Oil Has Entered Corrective Phase. Targets Below $50!

Short
CFD Petrolio WTI (TVC:USOIL)  
Veejahbee  
TVC:USOIL   CFD Petrolio WTI
Trend Analysis Chart Patterns Wave Analysis Oil Crude Oil WTI reversal
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trendanalysis chartpattern waveanalysis oil usoil reversal
Oil rallied from its coronavirus low and topped at $68.02 per barrel.
  • The five-wave decline from 68.02 high is the first sign of bearish reversal.
  • Any further rally in Oil must stay below 68.02 for the reversal to remain intact.
  • The breach of 58.91 key level will confirm the sell-off has resumed.
  • Targets below $52 are plausible in the weeks ahead.

What's your view on Oil? Let me know in the comment.
Thanks,
Veejahbee.
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