“Oil is playing out within the scope of everything. We elected the two Weekly Bullish Reversals we had in the $45 level the week of May 9th. Our first target for the reaction high was June and we have two Panic Cycles for April and May back-to-back. After June, we see September. Yes we warned with the February closing that everything held on our numbers which was implying a rally was coming in the wind. In March, we elected the Weekly Bullish at 38.40. That is when we warned the next target would be 45-49: “The two primary targets are at the $45 and $49 level. That has to be exceeded to hope for a rally to reach the formidable resistance zone in the $69-$70 area.”
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3 Years Of Painful Cuts Sets Markets Up For Serious Supply Crunch
