Tuesday, August 5, 2014

Crude oil update

Pay attention to specific facts ;
Main trend has been broken for a while!
After that, we just had a long channel pattern with wide sideway moves, but still in lower highs!
Gut feeling ; Saudi Arabia makes sure we stay in that price range, thus forming a longer channel, the only way to break out is a "major catalyst", ie: key news event (Irak, Libya, etc...) 

1 comment:

Anonymous said...

... Armenia & Azerbaijan conflict.. A number of important pipelines are going through Azerbaijan.