Crude oil upside corrective trend will end very soon. Now we are looking for short. bullish price was moving inside the ascending channel from 42.00 to 76.00. And now it seems poor volatility. So the price sentiment will change the direction to bearish side anytime.
There is a chance after reaching 80 or around 80 . We may see a drop. Before that i can not see .
No-trading
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@nahian87, yes I am also taking the same thing in my chart.
nahian87
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@pksharma, good chart. But when its oil I am bit tensed with fundamental news. its highly volatile with political news. Thanks for the chart
GeoDudeManBro
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@nahian87, bearish news this week has been pretty sobering for bulls (largest crude build in 19 months, Saudi Arabia and Russia replacing not just all Iranian crude but then some, India still going to be buying from Iran after sanctions, Genscape expecting another crude build this week, refinery maintenance season). As we get close to November, more and more of the feat that's been spread in the oil market by hedge funds are being disproven.