Oil Trend Line Bounce
Hey guys,
Sunday, Bloody Sunday!
And as a result, I’m obviously being a lazy af blogger, and just giving a quick weekend update on one of the setups I spoke about last week.
Remember when I was looking at oil... while on the beach? Living that ironic dream of a life?
Well look at what I was saying anyway:
CL Daily
How about that reactivation of the line as support. To the absolute pip.
Now look at where we ended up as the markets closed on Friday night:
CL Daily
Just in case it wasn’t obvious, I definitely still love technicals!
Enjoy what’s left of your weekend guys.
✌🏻.
@forexbrokr | Steemit Blog
Market Analyst and Forex Broker.
Twitter: @forexbrokr
Instagram: @forexbrokr
Thanks for sharing.
I think that the false breakout was a signal that sellers are on the market at this price. I don't believe in a new high. Let's see :)
Looks like you were spot on, mate!
;)
Oil is an interesting place politically at the moment; Trump pressuring for lower prices, RMB oil contracts, Russia wanting to invest in Iran's O&G sector, Aramco IPO etc. Plenty of price factors.
Crazy macro market!
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