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McClellan and ElliotWaveTrader- oil markets will roll over in 24
Posted: Fri Oct 27, 2023 9:06 am
by Tucker
I have only the most basic understanding of technical analysis, but I get both of the newsletters above to at least see what they are saying about various markets. The fundamentals sure seem to be aligned in favor of a strong oil market in 24. Does anyone have an understanding of how to assess this strong divergence? Thanks.
Re: McClellan and ElliotWaveTrader- oil markets will roll over in 24
Posted: Fri Oct 27, 2023 10:34 am
by dan_s
Fear of Recession and a strong U.S. dollar are keeping pressure on oil prices. Only a MAJOR GLOBAL RECESSION will lower oil demand growth.
Re: McClellan and ElliotWaveTrader- oil markets will roll over in 24
Posted: Fri Oct 27, 2023 10:42 am
by mikelp
the TA is helpful for sure
but given the volatility with the mid-east powder keg,
(nobody knows when the next shoe will drop)
I would not want to be short crude oil over the weekend !
