Potential SHORT/LONG on OIL IF...
Like my previous analysis, i am looking to see if OIL rejects or breaks the trend-line which is at the $80 level. Coincidentally, this is also where the 50EMA is at. I would want to see what it does at he 80-81.4 price. 80 price is at the trend-line and 81.4 is the previous resistance. If it breaks that level, we can see a nice push to 90s. If we see rejections, we can see retest support at he $70 level
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.