Crude Oil mean reversion complete
March 16, 2023 Leave a comment
Well, Well.
WTI Crude Oil has mean reverted to its 200 week moving average. Brent Crude is close but yet to do so.
Heating Oil and Gasoil (diesel) look like being in their way there too.
Who woulda thunk after all that palaver of Oil trading to $200 upon the outbreak of war in Ukraine.
The oil price has halved since that ‘invasion high’.
However, other extremes haven’t been registered and I’ll respect the downward trend which is still exhibiting strength.
There will be a few ways about how I’ll express my Long Oil view.
March 16, 2023
by Rob Zdravevski
rob@karriasset.com.au
rob zdravevski's blog 