Oil has recovered the trendline. and stayed above the false breakdown zone. Above the box oil is price action leans bullish. Below not so much. Important to watch as energy is big component of CPI.
Also energy stock have remained very strong despite the oil sell off.
Also energy stock have remained very strong despite the oil sell off.
Comment:
Failed to hold the trendline. A close back below the 1.13 Fib X would be bearish for oil. Trip down to 65 possible. Recession fears appear to be dominating right now.
