it is what it is. the points from the peak to Zero is enough to cover the shorts at unthinkable LOWSS
The price is in the stage of correcting and gathering strength to form the second highest peak
Apologies for late post here... WTI testing the multi month trend line. Recent move higher in oil was due to strong global growth and demand for oil and after US-administration confirmed they would impose sanctions on Iranian exports, the price of oil began to rally in fears of supply risk. As such traders pushed price higher ahead of the November deadline...
SELL 72.00 SL:=73.1. TP:=66.10
SELL 67.20 SL:=68.11 TP:=64.7
After failing to break above the grey resistance zone we now find ourselves back at the 28.10-27.54 support zone. A break below here will indicate further decline in the market with 25.13-23.61 zone being reached. Shorting below $28.10- $27.54 zone