Oil is at a ‘critical juncture’ and what it does next could shake up the stock market

Crude-oil prices rallied early Monday to levels not seen in at least seven months as geopolitical tensions continued to boil over following last week’s killing of Iranian general Qassem Soleimani at the hands of a U.S. drone strike.

“Oil prices are back at a familiar resistance level, a price area that has been tested on two other occasions ,” he wrote in a blog post on Monday referring to this chart: Followers of the Fibonacci ratio of 0.618, also known as the “golden” or “divine” ratio, believe a retracement that surpasses 61.8% of the previous downtrend suggests the rally is no longer a function of the previous trend; basically, a new trend has begun. Click here for more on Fibonacci.

So, this chart is saying nobody knows what’s going to happen tomorrow? It could go higher or lower because in actuality the move will be fundamentally driven. Like summer driving season or a tanker ship gets sunk. Maybe navy drills over the next week’s tell the future fortune 🔮

cafecomferri será que dia 15 vai ser antecipado 🤔 ashit estou long até as tampas 😎

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

China Wants To Save Iran Nuclear Deal As It Leaves Their Oil Market BehindChina criticized Trump for killing Kassam Soleimani, Iran's top military general. But it has one thing in common with Washington that is key to Beijing's support. So basically, China and the Democrats are still on the same side. Cos if oil price go high , the country that will be moat hurt is china ))))
Source: Forbes - 🏆 394. / 53 Read more »