USOIL - back to the 80's

2022年8月3日

It looks like both the markets and OIL will come down over the next day or two before a final rally up (SPX to 4250 area) and then a bigger move down for both into the fall.

For Oil, this means 90 should get broken and then I would expect a kickback rally up to test 92-94 again. At that point, oil should be a solid short opportunity.

That 92-94 area, being remarkable support for the last few weeks should be equally stiff resistance.

Target for oil - low 70's sometime in the fall.

2022年8月3日

ノート

another chart to watch is xle- possible back to the channel around 50 dollars.

2022年8月8日

ノート

hitting 90, like I said a bounce back to 92-94 is likely this week