RE:Ok I wiil say itmasfortuna wrote: Nobody seems to see the elephant in the room eh??? Commodities trade on macro events . Meaning regardless of what the charts say IF you go with charts, they are a distant second when it comes to news and numbers. In the case of oil, If china releases great news tomorrow,regardless of what the charts say, oil will go up. And vice versa ofc.
Case in point: Today's headline that oilprice is highlighting in their red banner is....
China’s Oil Reserves Could Undermine OPEC+ Efforts To Tighten The Market