Oil is the same as I expected. It has fallen below the five-day line since Monday and fell below the rising channel on Wednesday. I judge that oil will be adjusted this week, so this week's strategy is to sell short if it rebounds.
But before the close of trading on Friday, it rose again by 81.35 to reach the lower edge of the rising channel, so next week we must look again and wait for the market to make a new choice.
We will trade oil cautiously next Monday and wait for the trend to be obvious before trading, so that we will be safer.
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Waiting for tomorrow's directionNote
Observe the trend of oil tomorrow, whether it will return to the upward channelNote
wait
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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.