Oil is in a resistance zone for a while, but its bulls had the effort to rise. I forecast that the one more rising will be the last. Target is at 38 - 40$.
The sideways movement in the last day is a gathering strength situation, so I wait for a break-up and reach the target, but then after a huge reversal. Be aware is rising is matured! Trade below 34 or 32.50 would be a signal to the bears are coming back
The sideways movement in the last day is a gathering strength situation, so I wait for a break-up and reach the target, but then after a huge reversal. Be aware is rising is matured! Trade below 34 or 32.50 would be a signal to the bears are coming back
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.