CL1! Oil has returned to the level it left in Novembre 2014.Hello world!
According to my technicale analysis, Oil has returned back to the level it left in November 2014, which is a very strong trading range.
We can also observe that oil is reaching the top of the Uptrend channel, which means that we may see a small correction in the next few days/weeks. It can go down to the red line (which is a strong market support) in the worst cases during the current global economic situation.
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Comment: We didn't break the "Support 1", but we had a very big rejection at that level with a big volume, which signifies a trend reversal.
However, it could be a fake rejection. As long as we are within the trading range, any decision can be risky.
