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Oil, achieved long term target/supt right on schedule

Discussion in 'Technical Analysis' started by FXStreet_Team, Dec 14, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Near term crude oil outlook: The bearish view over the last few months of a final decline below the Aug low at $37.75, "ideally" into the mid/late Dec timeframe as part of a final "washout" (across a number of commodities) has indeed played out right on schedule. Note too that the market has reached that long term support/target (and "ideal" area to form a more major bottom) in the $34.00/50 area (see longer term below) earlier today. Nearer term, there are lots of positives and include an

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