""""The second failure to break above the $52 weighs on the WTI’s positive momentum. Support is seen at $50.30/ 50.00 (intra-day support / minor 23.6% retracement on Sep 20th to Oct 20th rise), before $49.65 (Oct 13th low) and $48.90. Breaking above the $52 resistance should clear the way to $53.00/55.00 mid-term resistance.""""
Looks like the POO is stumbling. But all is not lost - nothing like a good war to drive the price… Read More
The WTI is testing the $52 resistance for the second time in two weeks, suggesting that appositive breakout could encourage a surge toward the $53/$55 mid-term resistance. The key support is eyed at $50.18 (minor 23.6% retracement on Sep 20th to Oct 20th rise) and $48.94 (major 38.2% retrace).
Hi holeefook... Yes, thanks for the link, let's hope all works out for us and the oil flow well. Looking at the graph we should still have a period of decline in oil produced after water flood starts, as the area is filled with fluids!!! So we could see a good start next year!!!!
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