The crude oil did witness upbeat inventory data yesterday.
It made a ‘sell on news’ trade and made a sharp fall however, the support of 55.46 came to the rescue.
It has formed a double bottom at the support, broke the neckline and is currently retesting the same.
Hence, we expect the counter to be bullish for the short-term.
It made a ‘sell on news’ trade and made a sharp fall however, the support of 55.46 came to the rescue.
It has formed a double bottom at the support, broke the neckline and is currently retesting the same.
Hence, we expect the counter to be bullish for the short-term.
Trade closed: target reached