I still remember “they” said Ron 97 price is fluctuated according to world oil price. Meaning that if world oil price going up, then Ron 97 will also increase. If world oil price down, then Ron 97 will also down. Heckeleh. Tipu kambing boleh lah..
Well.. at this moment I could not see any potential reversal trend on oil price. Except for oversold stochastic, it is still downtrend on my chart, and at this moment it is testing 23% fibonacci retracment at 87.09 per barrel. If this level remains hold, then it may be bullish. If break this level, then I am expecting a fresh new low for February where it may test 86 per barrel.
They are so clever..they only count its uptrend and increase Ron97 during uptrend but when it is down… it is not counted. Heckeleh…. I believe, when crude oil price going up back to 92, our Ron 97 might be increased by another 10 cent.