Killy_Mel
Long

MACRO VIEW: WTI OIL IS TESTING ITS DOWNTREND!

NYMEX:CL1!   Light Crude Oil Futures
WTI OIL             tagging its relevant downtrend border first time since it started its descend back in July, marked by lower 1st standard deviation from quarterly (66-day) mean.

If the price manages to break above the border, chances are the downtrend is over (or at least current leg of it).

Full stop of the downtrend, however, can only be declared when the price trades above the quarterly mean.
Interesting prospective!
+2 Reply
Killy_Mel coolingla
thanks)
Reply
GOOD ANALYSIS ,
+2 Reply
Killy_Mel AMBRISH
thank you) more to come!))
+1 Reply
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