USOIL Update

#WTI Long story, short. The way the market is trading today may have eliminated a lot of triangle-based scenarios. I anticipate that the rise will continue to be erratic, but as before, those variations may occur faster or slower than shown. News regarding US oil and distillate inventories will be released tomorrow, and the US and EU are going to announce additional sanctions on Russia later this week. The price can finalise those peaks and troughs in a matter of hours if the news is big.
The big picture has also been simplified. Will share it as part of Weekly Update.

Direct message me for the link for more comprehensive coverage and the big picture.

Kommentera:

Also, look at Gasoil/Brent crack spread. The price action exceeded my expectations, dropping into a very strong support area that was further strengthened by two moving averages (200 and 100). In terms of technical indicators, this can be an extremely powerful charge for a probable rally.