Oil just hangs on to slope line
Updated
A weekly close below slope line, will plummet oil aggressively lower. Bounce also possible, however if you look @ recent price action and economic conditions this is very unlikely.
Possible target - 31.6$ would be a 100% trend extension.
25.8$ 2016 Low
Stop - 58$
Daily Chart
4- Hourly Chart
Possible target - 31.6$ would be a 100% trend extension.
25.8$ 2016 Low
Stop - 58$
Daily Chart
4- Hourly Chart
Trade active
Aggressive Entry on 30-min Chart, be careful on this short time frames. It's a bit of a gamble.Note
Break of possible neckline, looks to be the safer option.
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