Too fast too soon, but now its ready.

May 27, 2021

Oil moved rapidly into resistance, which has been a strong wall to break. This time its different, as the price didnt get quickly rejected as previous times. Secondly, the price has now trended near support, which shows strength by the buyers, and weakness by the sellers. The price moved up to quickly into resistance, but now that the 20 moving average catched up to the price I expect the price to finally push past the 66-67 area of resistance. I would buy at the break of 67, and set a stop loss 1 average true range distance below the low of the current sideways box. Wish you the best of luck, and make sure to respect your stop losses if we have a false breakout. Cheers