BLUE LINE - Last Support For Crude Oil
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.
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.
Get More Great Research & Tools
-- Special TradingView Tools
-- Automated Trading Systems
-- Proprietary Algos/Signals
-- More..
Join Ment.Com Expert Growth Today
Visit ment.com To Get Started
-- Special TradingView Tools
-- Automated Trading Systems
-- Proprietary Algos/Signals
-- More..
Join Ment.Com Expert Growth Today
Visit ment.com To Get Started
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.