Oil is on a downtrend (Obviously). Right now seems to be on a pullback/correction. It may be coming back to test it new resistance level. Will enter a sell if there is a rejection or a strong bear candle. Alternatively, it may just continue to drop from here without re-testing that resistance level.
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Disclaimer
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.