RE:RE:The Battle at $49Very true oilking gap down was the most probable direction after a immediate sell off from very bullish EIA numbers. I also said the daily candle was dogiish and to go with the gap the next day as after a day of indecision the gap at the open is the markets likely direction. Price action ie. defence of $49 overrules presumptions.
And no the seasonal charts are not going into strength oil weakens late Oct and into december.
https://www.equityclock.com/charts/crude-oil-futures-cl-seasonal-chart/
https://www.seasonalcharts.com/classics_rohoel.html