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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (61421)	7/2/2019 10:27:22 AM
From: Goose94	Read Replies (1) of 202684

Crude Oil: WTI Uncertain as Driving Season Picks Up Crude oil futures have completed the latest double bottom pattern and is now creating a rising wedge pattern leaving $60.28 as a breakout point on the chart. With OPEC extending cuts for another 9 months, this leaves the market open to a contraction in current supply versus the five-year average if the driving season picks up. The red flag a close below $57.20 where we could see a quick break back down to $55.00. This could happen on the lighter volume into the holiday market and slumping economic data leaving the market more of a coin flip at this point. Continue to watch the technicals and enjoy your holiday. Phillip Streible

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