Evening star on the monthly charts confirms oil is set for lower targeting 48.70 or below
Actual Resistance & best short level for near - term traders capped @ 57.30 & average level @ 58.70 above 56 for target 48.70. A crack below 47.30 sets pace for further downside & target extension till 40.70 - 36.80 below 45.40.
However, the daily technicals suggest's a pull back in place or retracement targeting 54.40 - 55.70 - 56 of the nose dive from 63.62 to 50.58, while support holds @ 53
Now @ 53.80
Crude Oil Probable Trading Pattern - Cable - Short term
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