$9 lower if it can’t hold support

With recording its 7th straight “up” week (those streaks don’t occur too often) along with a Weekly Overbought RSI, next month OPEC+ will increase output by 400,000 barrels and oil rig counts are rising….and then, what if, what if Ukraine/Russian tensions subside??

I’ll watch if WTI Crude holds this support line.

If not, it may be a quick $8-$9 decline.

It would certainly be welcomed, for rising energy costs will surely crimp corporate earnings in the next couple quarters.

February 10, 2022

by Rob Zdravevski

rob@karriasset.com

One Response to $9 lower if it can’t hold support

  1. beachmark says:

    Heh Roberto

    Election coming… Business goes on no matter who is in power…🤔

    If you get a moment in your spare time…😅 Can you pls do your chart magic / analysis 🧐 over Labour/Liberal years in gov – against the share market or GDP or something similar – let’s see who had the 🍀 luck … ???

    (or is it good management!!)

    mark mcmanus beachmark photography

    0447944496 beachmark@westnet.com.au http://www.beachmarkphotography.com.au

    >

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