OIL (WTI) SHORT
The price action formed an inverted cup and handle pattern, were price is currently in a parallel channel that acts as the handle. A breakout under the lower support will lead to the $71.90 area support, then another breakout of that support will lead to the $70.89 or so area.
The price is also in a current death cross, the 8 daily EMA under the 21 daily EMA.
A breakout over the orange ray would invalidate this idea.
The price is also in a current death cross, the 8 daily EMA under the 21 daily EMA.
A breakout over the orange ray would invalidate this idea.
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