WTI likely go back to 70 then rinse and repeat

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WTI likely go back to 70 then rinse and repeat

davidb31
2022-12-17

$Micro WTI Crude Oil - main 2301(MCLmain)$ Wti climbed, probably Biden secretly bought some of the SPR back, but could not pass the golden pocket. Likely go back to 70 then rinse and repeat.

Once the news of Russia's retreat from Ukraine (likely fake) hits,oiland gas prices will spike down so far and so fast your ears will pop. Meanwhile, WTI has more recently dipped below the 80% retracement of the 2021-2022 major move at $70 and borders the middle level of the Biden administration’s $67-$72 range. Price action appears to be respecting this level but that is not to say prices can’t head toward $66 in the interim.
The RSI has yet to enter oversold conditions, suggesting that further downside remains a possibility despite the artificial floor set by the SPR. Support comes in at $72, $67 and $62 (full Fib retracement). Resistance remains at $77, followed by $88.40.

https://www.tradingview.com/chart/USOIL/kuE9Sohu-WTI-To-66/

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powerbert
·2022-12-17
Oil price may rise again when China opened up further.
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Lakse
·2022-12-17
thanks for sharing
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WKB
·2022-12-17
Oil price is still hiGh now
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ming88
·2022-12-17
thank for sharing
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bobotrader
·2022-12-17
whoa nice nice a lower price can do some good!!!
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Ljoney
·2022-12-19
like
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Malaranger
·2022-12-19
Ok
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Catnbird
·2022-12-17
omg
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ShawnKoh1
·2022-12-17
ok
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Roycethong
·2022-12-17
Yes
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HarryLim
·2022-12-17
Ok
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newminted
·2022-12-17
ok
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Khim007
·2022-12-17
Done
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MisterCay
·2022-12-17
Good
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Kenny77
·2022-12-17
Good
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HandsomeBoy
·2022-12-17
[Miser]
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zzgundam
·2022-12-17
Ok
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Milankaka
·2022-12-17
Ok
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CHUMOI
·2022-12-17
Tq
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Vgreen
·2022-12-17
[Like]
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Likely go back to 70 then rinse and repeat.Once the news of Russia's retreat from Ukraine (likely fake) hits,oiland gas prices will spike down so far and so fast your ears will pop. Meanwhile, WTI has more recently dipped below the 80% retracement of the 2021-2022 major move at $70 and borders the middle level of the Biden administration’s $67-$72 range. Price action appears to be respecting this level but that is not to say prices can’t head toward $66 in the interim. The&nbsp;RSI&nbsp;has yet to enter oversold conditions, suggesting that further downside remains a possibility despite the artificial floor set by the&nbsp;SPR. Support comes in at $72, $67 and $62 (full Fib retracement). Resistance remains at $77, followed by $88.40.https://www.tradingview.com/chart/USOIL/kuE9Sohu-WTI-To-66/</body></html>","htmlText":"<html><head></head><body><img src=\"https://community-static.tradeup.com/news/17d7e067906adffb080f9b1c67b0c7f8\" tg-width=\"-1\" tg-height=\"-1\"><a href=\"https://ttm.financial/FUT/MCLmain\">$Micro WTI Crude Oil - main 2301(MCLmain)$</a> Wti climbed, probably Biden secretly bought some of the SPR back, but could not pass the golden pocket. Likely go back to 70 then rinse and repeat.Once the news of Russia's retreat from Ukraine (likely fake) hits,oiland gas prices will spike down so far and so fast your ears will pop. Meanwhile, WTI has more recently dipped below the 80% retracement of the 2021-2022 major move at $70 and borders the middle level of the Biden administration’s $67-$72 range. Price action appears to be respecting this level but that is not to say prices can’t head toward $66 in the interim. The&nbsp;RSI&nbsp;has yet to enter oversold conditions, suggesting that further downside remains a possibility despite the artificial floor set by the&nbsp;SPR. Support comes in at $72, $67 and $62 (full Fib retracement). Resistance remains at $77, followed by $88.40.https://www.tradingview.com/chart/USOIL/kuE9Sohu-WTI-To-66/</body></html>","text":"$Micro WTI Crude Oil - main 2301(MCLmain)$ Wti climbed, probably Biden secretly bought some of the SPR back, but could not pass the golden pocket. Likely go back to 70 then rinse and repeat. Once the news of Russia's retreat from Ukraine (likely fake) hits,oiland gas prices will spike down so far and so fast your ears will pop. Meanwhile, WTI has more recently dipped below the 80% retracement of the 2021-2022 major move at $70 and borders the middle level of the Biden administration’s $67-$72 range. Price action appears to be respecting this level but that is not to say prices can’t head toward $66 in the interim. The RSI has yet to enter oversold conditions, suggesting that further downside remains a possibility despite the artificial floor set by the SPR. Support comes in at $72, $67 and $62 (full Fib retracement). Resistance remains at $77, followed by $88.40. 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