Oil has been ripping. That is clear. But has it ripped too much?
Election coming. No way Biden doesn't do whatever he can to make oil cheap before election.
Currently at a triangle resistance hidden as a downtrend breakout.
Strong resistance at $84. 2 of past 3 days saw some selling pressure.
Expectation: If we start to break down I'm looking for $79-$80 for first target.
Breakout of $84 with volume could hit $88.
Must be aware of price action going into these levels. Trading levels alone is not enough. Trade carefully friends.
Election coming. No way Biden doesn't do whatever he can to make oil cheap before election.
Currently at a triangle resistance hidden as a downtrend breakout.
Strong resistance at $84. 2 of past 3 days saw some selling pressure.
Expectation: If we start to break down I'm looking for $79-$80 for first target.
Breakout of $84 with volume could hit $88.
Must be aware of price action going into these levels. Trading levels alone is not enough. Trade carefully friends.
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Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.