Key Zone for Oil

17 thg 1, 2023

We are again testing the lower edge of a key zone for oil. If it breaks through the initial resistance, it could either trade inside that zone or break above and form a new support level where the resistance used to be. I would watch the volumes and tick charts to see where big players enter the market here and be patient. Wait for the price to show its hand. And its always a good idea to watch the news for fundamental clue's. Keep an eye on Russia and China, inventory levels and such. I'm on the bullish side here, the key for me is when not if....