21:33 Hrs / 5th Feb 2019
Jan 2019 has started upside recovery as suggested in the last idea that 38-42 $ base should act as strong & we look upside.
The Last Oil Idea ( Video Idea)
Its been quite a while, we are watching crudeoil's decline, after an energetic run which stopped around 77. prices are juggling between 50and 54 since quite long, 52.20 area always ensured enough supply which in my opinion is a demand zone now. I would suggest going long for 55 with placing SL at 51.90.
Crude oil has been in a downtrend for the last week, we can expect a retracement till 68.50$. We could see resistance around those levels to continue lower towards 61$. Short term traders can buy with a SL 66.80