Oil, in long discussed 'ideal' time/price for major low

Discussion in 'Technical Analysis' started by FXStreet_Team, Dec 22, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    Near term crude oil outlook: The market remains heavy recent lows as the view over the last few months of a downside "washout", ideally into the longer term $34.00 area (year long falling support line) and ideally into the mid/late Dec timeframe, has indeed played. Additionally seen as an "ideal" area to form a potentially more major bottom (see longer term below). Nearer term lots of positives also raise the potential of an important bottom nearing and include an oversold market after the

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