At the start of the week, we saw some pressure on Oil , possibly suggesting we may have topped out
The chart shows we are holding the up channel , and we are likely still in the bullish cycle.
On 4H, if the current candle closes near it's current levels, we would have a bullish engulfing candle. We are also showing a higher low followed by the low made two days ago. A break of 46.04 will confirm a higher high and reinforce the bullish trend , increasing the possibility of the instrument taking out the highs on the chart.
The chart shows we are holding the up channel , and we are likely still in the bullish cycle.
On 4H, if the current candle closes near it's current levels, we would have a bullish engulfing candle. We are also showing a higher low followed by the low made two days ago. A break of 46.04 will confirm a higher high and reinforce the bullish trend , increasing the possibility of the instrument taking out the highs on the chart.
Comment:
We have broken the channel, clear bearish signal. Will look for setups on rallies and post.
