Fell through a rising wedge. Back to previous support; ~$96.00.
Note
it retraced right to the top of the expected support, but I'd still exercise caution entering a long right now, but it depends on your risk tolerance. It closed on a strong rebound today, and we are at a very important support zone, which means we have a good chance for a turn around, but if support is not held at this level, the downturn will likely be very large.Note
Long term support has been found in the range of 105-95 dollars. If you're confident it is good place to buy, but I would personally prefer to wait until a stronger upwards or downwards trend is formed before entering another position
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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.