Seems like 50 $ are acting like a difficult resistance for oil
. I would expect a re-test of 48 $ and maybe a breakout of it's main trend as we already bounced 90% from bottom, crashing to 38$ to start forming a right shoulder.
Note: The H&S
is a possibility I considere and would be perfect in TA/FA as OPEP didnt do anything and oil
production is still high.