The crude oil did witness upbeat inventory data yesterday.
It made a ‘sell on news’ trade and made a sharp fall however, the support of 55.46 came to the rescue.
It has formed a double bottom at the support, broke the neckline and is currently retesting the same.
Hence, we expect the counter to be bullish for the short-term.
It made a ‘sell on news’ trade and made a sharp fall however, the support of 55.46 came to the rescue.
It has formed a double bottom at the support, broke the neckline and is currently retesting the same.
Hence, we expect the counter to be bullish for the short-term.
Trade closed: target reached
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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.
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.