from King World News
With continued uncertainty in global markets, a scenario is unfolding that will make Russian leader Vladimir Putin’s hand much stronger. This will also significantly impact the oil, gold and silver markets as well as currency markets.
Is Crude Oil Setting Up To Surge A Staggering 66 Percent?
Top Citi analyst Tom Fitzpatrick: “We had been biased that Crude would correct lower to at least and possibly extend as low as around $38. The low in this move was $39/19 and Crude has since bounced sharply. The weekly pattern now looks like an evening star formation (Bullish). This suggests that it can go back and test resistance in the $51 – $52 area (Resistance and potential inverted head and shoulders neckline).