I have 4 scenarios but mostly like the story about long. The world economies are not ready to continue the coronovirus story and everyone is tired of it. Businesses will die, constant stimulation will kill the American dollar.
I will look for entry points after a false breakdown of levels. In my opinion in a situation of partial uncertainty this is the only way...
the downward trend of oil to break with good volume
high probability oil will go up to $ 28
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GOOD LUCK
OANDA:WTICOUSD
My Short Position = 14.447 Dollar
Stoploss = 14.166 Dollar
Between TP = 3.239 / 1.997
The Main Problem With Oil Business is "plenty with oil storage"
Crudeoil is at big support on 4 months chart and already started changing the trend
Now It is breaking out of double bottom
There is still more support zone below so, not sure if it will fall more, but i feel like it won't fall further as it is just below Make or break support level (marked in violet color)
Its worth giving try on every reversal sign once price is...
