OIl Update 17 December 2025

We took profit too early!

Damn. Price finally capitulates. There’s support where we are now but confirmation below 58.60 should see a steep fall to 46.00 and then 35.00.

A bounce back into the bear flag is possible but we’ve now taken out the cup and handle low, setup now negated.

With less liquidity in the next few weeks, it will be difficult for price stop going down if OPEC’s oversupply keeps getting distributed.