Play of the Week: US Oil
Updated
Price has been in a range(82.50-73.00) for a few weeks. Daily is showing possible M pattern forming. A lot of significant news dropping this week. Id like to see a break of structure(73.00) and a continuation to the downside. However, if that doesn't take place we'll continue to see price remain in this zone or breakout to the opposite direction.
Comment
completion of the M pattern as well as the break of structure(73.00)Comment
Need to see a clear break and close under 73.00 or else the triple bottom is in play and the bulls are entering the chat!
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