Reasons for being bullish on OIL :- The last correction to $58 ended up forming Double bottom base formation RSI not hitting oversold level of 30 on daily charts Breakout above double bottom and retesting its neckline at $60.71 Forming a cup & handle formation and a break above neckline last friday Macd backing it up with a positive crossover Rsi above 50 adds to the strength to current move.
May retest $66 next week as long as it holds above $60.70
Note
Made a base @ $60 before heading back to prior Resistance zone.
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