Oil viciously rejected its 200 day moving average last Friday. The currently slight upwards trend is at the angle of a theoretical bear flag. If oil breaks downside as I expect, it should find support around $44 a barrel at the old trend line.
Commentaire:
Watch the levels here. Oil should hover until the inventories report. It could go either way, but October is a month where inventories tend to increase. Take that info as you may