In US oil we are looking at a price that just tested the previous support turned resistance and that completely falls in line with the neckline of the M formation on the daily timeframe. In the Monthly timeframe we have a W formation that is forming and we would like the price to fall under the 49.70
The EMAs are already cut for short and the MACD shows that the environment is bearish.
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Thanks and have an amazing trading week.
The EMAs are already cut for short and the MACD shows that the environment is bearish.
If you guys liked the analysis press on that like button and if you have a different opinion it would be great if you can share it in the comment area below.
Thanks and have an amazing trading week.