Crude needs to bounce off retest support today...
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Previously bullish on Crude Oil, especially after it met expectations to break out of the triangle. However, it did meet resistance and failed with a gap down, pushing back to retest the triangle. At this point, pre-(US)market hours, Crude broke back into the triangle, which would be bearish in nature, expecting an exit on the other side to ensue in due course.
So, in short, be the end of the trading day, Crude needs to spike back up above 18 May close.
The OSL line is currently below the 55EMA.
Will review again...
So, in short, be the end of the trading day, Crude needs to spike back up above 18 May close.
The OSL line is currently below the 55EMA.
Will review again...
Note
and it DID! :)
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