Still waiting and watching Oil prices

The setup for the oil price isn’t looking healthy.

A saving grace is that the strength of the current downtrend remains weak.

I’ve been writing about preparing to go long oil and oil related assets or securities….but still not yet.

The link to my note from October 29, 2024 mentions price levels that I am watching.

One thing to watch is whether WTI Crude makes a new ‘lower low’.

Oil falling 33% further makes it interesting

December 9, 2024

rob@karriasset.com.au