If oil breaks support, best short possibility since months
Oil on the verge of breaking support, showing a very nice short opportunity.
If you trade this move, as always,you should wait for the breakout confirmation.
1st Target is the bottom of the other channel, the yellow line.
If oil breaks down, whole market will follow (2nd leg down for SPX and NASDAQ).
This is not investment advice, just TA.
Good luck!
If you trade this move, as always,you should wait for the breakout confirmation.
1st Target is the bottom of the other channel, the yellow line.
If oil breaks down, whole market will follow (2nd leg down for SPX and NASDAQ).
This is not investment advice, just TA.
Good luck!
Note
To complete this idea, oil price was rejected quite strongly by ema50 on the 4h, which is generally a bearish sign. Can support hold? 
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.