Oil not in the clear

24 Haz

a Monthly close below $70 will trigger the pattern shown. The measured move works out to around $46. The much delayed recession, I believe, is about to play out. A slow down is U.S. economy coupled with North American production is going to hit the industry hard. Cash is your best friend in the energy space now. That $40 oil will be a great producer buying opportunity. Cheers.