Oil has been unstoppable as of late. Yet, as the chart below shows we are at the yearly R1 level and have formed a hanging man candle formation at extreme overbought levels. A Demark 9 sell setup also looks like it could be triggered by the end of this week.
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.