USA are pushing to depress the Oil price to attack the twin threats from Russia and the Middle East. So far it is working.....
2 months on from the threat of Oil breaking above $108, the price collapsed in July falling though $104 stop to hit $99 on 15th July. The bounce back failed to break $104 ($103.90) and resumed it's slide to $92.50 in August.
Bears will look to target $88 and eventually the P&F target $78 by Friday 17th October 2014
Bulls need to close above $99 on a weekly basis.
2 months on from the threat of Oil breaking above $108, the price collapsed in July falling though $104 stop to hit $99 on 15th July. The bounce back failed to break $104 ($103.90) and resumed it's slide to $92.50 in August.
Bears will look to target $88 and eventually the P&F target $78 by Friday 17th October 2014
Bulls need to close above $99 on a weekly basis.
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