Just like any sports games, the middle of the playing field is commonly the most important zone as it will mark which side is in control of the game. Likewise, we can apply the same concept to trend analysis. The first line of defense for bull will be the upper quarter line 45.376 and if bear can penetrate the middle line 41.459 it is highly likely that we will see more downward pressure on oil price.
Note
Note
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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.