The neutral situation we recommended this week due to the inappropriate risk versus reward ratio remains unchanged, as oil trades near 30.00 levels and 29.60 support where 161.8% Fibonacci exists.
Stable moves blow 32.50 is a negative factor and may bring a test of 29.60, but as we mentioned above, we remain on the sidelines now until we get a confirmation from charts.
Support: 30.00 – 29.60 – 28.70
Resistance: 31.50 – 32.50 – 33.10
TRADE FOR RISKY TRDERS
Direction: direction, but we will not issue recommendation now.