Oil as projected earlier started its downwards journey.
Now it is in a pullback from its overnight low. Another sell opportunity coming up from 69.
Reasons: Saudi Arabia announced a price cut to asian consumers today. As a result the price went down significantly, and is now on oversold from a 1H time frame. The new sell opportunity from 69 will see the price moving down further towards the 67 mark.
The price seldom moves in a straight line, so this pullback is a great opportunity for me to start a new short position.
Now it is in a pullback from its overnight low. Another sell opportunity coming up from 69.
Reasons: Saudi Arabia announced a price cut to asian consumers today. As a result the price went down significantly, and is now on oversold from a 1H time frame. The new sell opportunity from 69 will see the price moving down further towards the 67 mark.
The price seldom moves in a straight line, so this pullback is a great opportunity for me to start a new short position.
