TRDVMA

Has OIL started it's reversal?

FX:UKOIL   Crude Oil (Brent)
202 2 2
Still early to say, but this thrust is encouraging. We need more evidence and a strong base (in technical terms).. One thing is sure that the 2008 support area is in the works. For portfolio managers (like myself), I would wait a bit more before allocating some Oils into my portfolio. We are on the right track, I guess. Good Trades.
snapshot


Daily and hourly trendlines pierced. This indicates some strength. Still too early to make a reversal call. We are on the wait for much more confirmation.
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You right, still early. And "rebound" is now too mach week.
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