Oil made a lower high at 82.43, consolidated then broke below the support and through an ascending trend line on the 4hr tf. Weekly closed as a bearish rejection from higher tf resistance. Price has moved up to retest Moving Average and may tap trendline agaim, but ultimately anticipating bearish momentum to enter over NY session. Crude oil inventories due later today also which should provide volume to the downside.
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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.