I'm trying this again on an H4 chart with a new sell zone and an updated trendline that seems to have successfully served as resistance.
The fundamentals still likely favor oil, however, I believe it is currently shortable in the 51.70 - 52.60 range with a stop above $53. The target remains $49.80 - $50
The fundamentals still likely favor oil, however, I believe it is currently shortable in the 51.70 - 52.60 range with a stop above $53. The target remains $49.80 - $50
Note
Right into resistance here. Let's see if it works.Note
Seems to be working perfectly.
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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.