Oil has broken down from the bottom blue trendline and is oversold.
A retracement to the top blue line before resuming the fall is possible.
Long close to the ascending purple trendline at sub 47ish.
Target above $48.
Stop-loss below $46.
A retracement to the top blue line before resuming the fall is possible.
Long close to the ascending purple trendline at sub 47ish.
Target above $48.
Stop-loss below $46.
Trade closed: stop reached:
Stop-loss reached. We may re-test the blue trend-line in the coming week.