As oil completed the cycle of collecting liquidity and landing back on the weekly trendline, we are looking to see a sign of a rally on the upside. From there we could potentially trade it all the way to $80 +zone. Please be aware the pressure on the trend line to break to the downside is getting stronger so we must be aware of a possible drop as trend lines are meant to be broken.
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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.