TipTVFinance

UK Oil - re-test of falling wedge support

FX:UKOIL   Crude Oil (Brent)
Brent's retreat on Wednesday accompanied by a comparatively higher volumes suggests the Tuesday's rise was nothing more than short covering and the prices could extend the retreat to falling wedge support at around $45.60.

The repeated failure to take out 5-DMA since Asia adds credence to the bearish view.

On the higher side, only a day end closing above $48.21 accompanied by volumes higher than that seen on Tuesday would suggest a short-term bottom has been made and could yield test of falling wedge resistance.
English
English (UK)
English (IN)
Deutsch
Français
Español
Italiano
Polski
Türkçe
Русский
Português
Bahasa Indonesia
Bahasa Melayu
ภาษาไทย
Tiếng Việt
日本語
한국어
简体
台灣
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out