a lot of questions about OIL.
on a daily the price is currently consolidating within a wide horizontal trading range.
41.0 - 41.5 is its resistance
36.1 - 37.0 is its support
while the price within a consolidating range, we expect bullish movements from its support
and bearish from its resistance.
for now, I remain...
Brent 🛢 is rising in the smooth Uptrend and is forming the Ascending triangle. The golden cross and the swing at the ROC 9 suggest the price will continue its rise up to the test of the 43.17 level.
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Price formed a sort of an apex - liquidity block and very soon there will be breakdown or breakout from that box. From very weak bullish rise we can see that bids are exhausted and price should seek liquidity lower running down to the next major liquidity base to fill that low steam bid rise.
Top Absolute Correlation 1 Day
1 XTIUSD - XBRUSD 98.6%
2 XTIUSD -...