The counter has broken down from an ascending trend line.
Further, the oil market is making range-bound movements and the breakdown has happened at the higher end of the range.
Hence, we expect crude oil to move to the lower end of the range.
Further, the oil market is making range-bound movements and the breakdown has happened at the higher end of the range.
Hence, we expect crude oil to move to the lower end of the range.
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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.