DOVISH OIL BIAS
From last week oil made a bearish impulse from 10800.00 to 9800.00 breaking daily support at 10300.00. We can see during the correction price was rejected by both the daily support, the 50% of the fib pulled on the impulse and there was a formation of a double top. From here we can scale down to the smaller TF to look to short with TP at 9400.00.
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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.