WTI US Oil , just made an impulsive sharp move up , breaching the old resistance level with full force... Do not short yet. There seems to be a strong case for higher Oil Price
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US asked Russia for more Oil ? Thats the kind of news can drive the Oil price back to $75
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Higher oil prices, is also impacting negatively on stock prices, as higher oil prices, will increase the production cost, so it will impact negatively on the bottom line. I am expecting higher oil prices, and lower stock prices on various stock indices.
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I hope I saved a lot of traders from shorting OIl, as I said, its not a short yet