Oil forecast
Last Friday price broke down a channel. I am not sure if it was a real break down or not. So, I will watch 52.20 – 52.50 range. If rejected there, go short with 49.80 target. But if consolidation takes place, the price will likely come back into channel. In this case, consider longs with target $55 a barrel.
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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.