Oil Tapped out at 82.60 and has been leaking away
Oil had a double top at 82.60, it was symmetry on the 2nd run from 72.42 to 82.60 (10.20+/-) in an ideal scenario it could have been upto 83.72, they prior move from 70.10-81.40.
From 82.60 and a break of 70.10 then downside is probable at 68.60-65.75
consolidation at 70.00-72.00 or breakdown to next zone 68.60-65.75
Break below 68.60-65.75 then Oil can easily slide down to 63.00-57-00 price zone then onward to 54.00-52.00.
Watch for consolidation between 72.00-70.00 & 68.60-65.75 these price zones for a counter trend move higher.
Enjoy your Weekend
From 82.60 and a break of 70.10 then downside is probable at 68.60-65.75
consolidation at 70.00-72.00 or breakdown to next zone 68.60-65.75
Break below 68.60-65.75 then Oil can easily slide down to 63.00-57-00 price zone then onward to 54.00-52.00.
Watch for consolidation between 72.00-70.00 & 68.60-65.75 these price zones for a counter trend move higher.
Enjoy your Weekend
