Oil Trend Line Bounce

in forex •  7 years ago 

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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

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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

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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.

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forex commodities oil environment teamaustralia
7 years ago by

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      ·  7 years ago 

    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 :)

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        ·  7 years ago 

      Looks like you were spot on, mate!

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          ·  7 years ago 

        ;)

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            ·  7 years ago 

          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.

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            [-]
              ·  7 years ago 

            Crazy macro market!

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                ·  7 years ago 

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