• After rallying for more than a week, bulls failed to break above 116 resistance level
• Oil prices have been trading lower for the past 2 sessions but still within an ascending bullish channel
• Next target to the downside comes at a level between 110-111 (trend line support)
• A break of the bullish channel signals fading bullish power and targets 103, 100 and 92.6 respectively
• Longs recommended while still inside the channel with stops below 110
• Shorts to be executed on a successful breakdown from the channel with stops just above the lower trend line and targets listed above
Good luck
• Oil prices have been trading lower for the past 2 sessions but still within an ascending bullish channel
• Next target to the downside comes at a level between 110-111 (trend line support)
• A break of the bullish channel signals fading bullish power and targets 103, 100 and 92.6 respectively
• Longs recommended while still inside the channel with stops below 110
• Shorts to be executed on a successful breakdown from the channel with stops just above the lower trend line and targets listed above
Good luck
註釋
02-06-2022 target 110 was hit as expected, acted as a support and from there prices are pushing higher inside the channel註釋
92.6 target hit
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