$50 is the broken Support and hence a resistance

Even though i don't really emphasize technical buildups while trading oil, but from the fundamental outlook it doesn't look like we have found a bottom yet. Let's see what opec meeting bring's us, as of now i am looking to cut my longs at 49.49 and monitor price action to switch to shorts

Commentaire:

OPEC couldn't reach an agreement , we are attacking $40 eventually, that's where i would exit since its a psychological level