$69 Next target for Oil?
-Oil prices drop 2% overnight as US energy policy news had a negative effect on oil
-Oil prices break below July swing high as shorters take control of the market in the last 40 hours
-UK Newspaper Financial Times FT reported eased supply concerns further
According to the technical analysis above, we can see that the daily candle yesterday formed a nice BEOB Bearish Outside Bar candle, which is one of the strongest price action reversal signs.
Expecting that the price will continue to the downside and reached the first demand level of $69 per barrel.
-Oil prices break below July swing high as shorters take control of the market in the last 40 hours
-UK Newspaper Financial Times FT reported eased supply concerns further
According to the technical analysis above, we can see that the daily candle yesterday formed a nice BEOB Bearish Outside Bar candle, which is one of the strongest price action reversal signs.
Expecting that the price will continue to the downside and reached the first demand level of $69 per barrel.
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