What if it breaks to the upside of the descending channel? I agree oil will fall next year upon ending of OPEC cuts, but this year, oil could rally more. I would not enter a short until next year. Oil movements are linked a lot to USD right now. Oil has been rallying because USD has been falling all year. If USD rebounds and heads up, it gives more support and validation to WTI making a long term downtrend.
FUNTRADER-Vera
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@josephtse, good point. this is chart is not asking you to hold a trade till next year.
The rolling contract cant support that too.
I can't thank you enough for your continuous support ..
lots of love and respect to you .
Ahmed