Oil in the near future. 6.22.2021
6.22.21 $72.95
My guess is that the market will be bearish in near future.
Because:
- In 2018, when market reached $75.50 it fell to $66.60 support level twice.
- Since April 2021, the market shows rising wedge pattern which most likely breaks down.
- The dynamic resistance and the rising wedge resistances are both one the same level
- It is time for consolidation
My guess is that the market will be bearish in near future.
Because:
- In 2018, when market reached $75.50 it fell to $66.60 support level twice.
- Since April 2021, the market shows rising wedge pattern which most likely breaks down.
- The dynamic resistance and the rising wedge resistances are both one the same level
- It is time for consolidation
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