In my last post about Oil, I said that "Oil has a good possibility to get back to the range of 83.50 and 84.50", but also "Oil had broken 3 LH's that were created between July 22nd, 2024 and August 1st, 2024". I also mentioned that "we can see a pullback in the ranges of 78.84 and 77.12". In my outlook at the top of the week, I said that I was on the buyer's side...
NYMEX:MCL1!
After nearly a month of selling, oil seems to be taking back buyer's momentum that first started on July 17th, 2024 and ended on August 6th, 2024. When the creation of the "W" formed shortly after hitting a 10 min supply area, this signaled the last moments of Oil's sell trend. As we go into this week, we see that oil is still coming in hot to take...
