oil is hard to break present position.
This analysis i did couple months ago; i didn't redraw or replace it by using new analysis because its movement is prefect matching the trend. For example, right now, the oil doesn't break the dark red line which means, it may turn to bearish.
But, set 52.94 as a S/L position, the blue line which red arrow touched as T/P. If the price break 52.94 and up, it will be another story.
But, set 52.94 as a S/L position, the blue line which red arrow touched as T/P. If the price break 52.94 and up, it will be another story.
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.