2 Outcomes here for tomorrow:
1) June Contract expires tomorrow, does this mark the end of the Corrective C wave and will USOIL continue back down?
2) Prices continue up and reach 161.8% Fib Extension which means we can expect a leg down before continuing up even higher.
I am leaning towards prices reaching $40 a barrel due to economies opening up.
Time will tell which ones of these is correct.
1) June Contract expires tomorrow, does this mark the end of the Corrective C wave and will USOIL continue back down?
2) Prices continue up and reach 161.8% Fib Extension which means we can expect a leg down before continuing up even higher.
I am leaning towards prices reaching $40 a barrel due to economies opening up.
Time will tell which ones of these is correct.