OIL Short
Oil viciously rejected its 200 day moving average last Friday. The currently slight upwards trend is at the angle of a theoretical bear flag. If oil breaks downside as I expect, it should find support around $44 a barrel at the old trend line.
Note
Watch the levels here. Oil should hover until the inventories report. It could go either way, but October is a month where inventories tend to increase. Take that info as you may
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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.