Crude Oil drop is washing out the ‘longs’

WTI Crude Oil saw the $70 target within 3 days.

This post link alluded to seeing it within “next 10 days”.

The price is now $69.20, at the time of writing.

Now, I’m thinking the next move for WTI Crude Oil is towards $67.80 – $65.90 area, which may be seen quickly, perhaps the end of Monday’s U.S. trading session.

My buying interest is heightened.

Interestingly, WTI Crude Oil prices are in their 7th consecutive week of declines and now I don’t see any geopolitical risk premium.

December 7, 2023

by Rob Zdravevski

rob@karriasset.com.au