If Oil breaks the neck line of the double bottom(RSI divergence confluence), it gives room to go to the first resistance zone($56.96). The second target will be the second resistance zone ($59.60).
Note
A descending triangle is forming. A breakout to the downside gives room to start a sell of.
Note
The first take profit level has been reached. If there is enough momentum, the price might reach the second take profit target.
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.