If oil breaks support, best short possibility since months
Oil on the verge of breaking support, showing a very nice short opportunity.
If you trade this move, as always,you should wait for the breakout confirmation.
1st Target is the bottom of the other channel, the yellow line.
If oil breaks down, whole market will follow (2nd leg down for SPX and NASDAQ).
This is not investment advice, just TA.
Good luck!
If you trade this move, as always,you should wait for the breakout confirmation.
1st Target is the bottom of the other channel, the yellow line.
If oil breaks down, whole market will follow (2nd leg down for SPX and NASDAQ).
This is not investment advice, just TA.
Good luck!
Comment:
To complete this idea, oil price was rejected quite strongly by ema50 on the 4h, which is generally a bearish sign. Can support hold?
