Can oil drop to $65? And can we imagine return to $20…? This week was extremely eventful for the commodity and before I deep dive into technicals, I would like to remind about just major oil-related calls of the week.
July 31: Can Oil Fall to $20? Study
August 1: Call on Double Top
August 3: $XLE: Alert & Long Term Forecast
August 4: $XOM: Back to $30???
Previous call on oil: Diagonal: June 4 – July 17
We had a fantastic weekly closure and enough technical events to guide us.
This overview covers:
– long and short term forecasts;
– evaluation of candles and TA on multiple frames.
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