Oil likes channels. I belive it will at least go down to visit support around 49,40 and bottom line of the channel. If broken it will slide to 48,40-48,50.
I will not short it now. If it goes to the top of the channel and it is rejected from 50.40-50,50 I will enter short.
I will not short it now. If it goes to the top of the channel and it is rejected from 50.40-50,50 I will enter short.
Note
Up to the channel border and bounce back. If retrace - short
Note
wnet long after channel broken and retestested. TP 51,70/51,90, then short if retested.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.