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themarketzone
Aug 2, 2017 3:29 PM

Re-testing Sell Zone 

Crude Oil FuturesNYMEX

Description

Yesterday, Oil fell 3% from a Sell Zone that I mentioned in my weekly newsletter (#WeeklyMarketsAnalysis on Twitter) and in my IG account.
The bearish reaction to the Sell Zone confirms that there are sellers between 49-50$ .
Today we see a bullish pullback that drives Oil back into the Sell Zone, now testing the 200 days MA line as resistance.
This is a potential continuation setup for those who wish to trade Oil lower.
The final target zone of my bearish setup is 45-46$
Comments
RuhailKhan
very good analysis
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