Oil: Thoughts and Analysis
Today's focus: Oil
Pattern – Support Hold
Support – 71.80
Resistance – 78.80
Hi, traders; thanks for tuning in for today's update. Today, we are looking at Oil.
After a solid three-day decline, buyers have put up a fight from 71.80, but is this enough to hold the current uptrend? A break below yesterday's bar with a trend break could suggest that the current move lower has further to go.
We have reviewed a few scenarios we are looking for, depending on what we see today.
Good trading.
Pattern – Support Hold
Support – 71.80
Resistance – 78.80
Hi, traders; thanks for tuning in for today's update. Today, we are looking at Oil.
After a solid three-day decline, buyers have put up a fight from 71.80, but is this enough to hold the current uptrend? A break below yesterday's bar with a trend break could suggest that the current move lower has further to go.
We have reviewed a few scenarios we are looking for, depending on what we see today.
Good trading.
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