Midterm forecast: While the price is below the resistance 66.50, beginning of downtrend is expected. We make sure when the support at 55.20 breaks. If the resistance at 66.50 is broken, the short-term forecast -beginning of downtrend- will be invalid. Technical analysis: While the RSI support #1 at 43 is not broken, the probability of price decrease would be...
Oil is favoring a long position owing to the trendline in the figure. The Risk:Reward is favorable.
An Extended Flat taking highs and lows.. one big fall expected and then a big rise...