OIL in consolidation mode
Oil is staying in parallel channel until it breaks it and goes into a clear direction.
A breakout above 62 or below 58 signals the start of either a bull or a bear market.
Since it broke previous channel, market might be biased for short, but at the same time, with some big buyer buying, might be biased for long.
Short below 58
Long above 62
Buy/sell according to trend and highs/lows in channel.
A breakout above 62 or below 58 signals the start of either a bull or a bear market.
Since it broke previous channel, market might be biased for short, but at the same time, with some big buyer buying, might be biased for long.
Short below 58
Long above 62
Buy/sell according to trend and highs/lows in channel.
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.