$OIL Weekly Analysis
From where we stand, today seems to be the day, which will determine the weekly trend. A bounce up in the $78.25 area should lead to higher high and a potential uptrend.
If the lower trendline doesn't hold, I will be opening a short, targeting at least $76.90 and potentially looking for stacking short orders.
Currently still in "'Sit Tight and Assess'" mode, trying to not look up or down, but just let the market do its thing.
From where we stand, today seems to be the day, which will determine the weekly trend. A bounce up in the $78.25 area should lead to higher high and a potential uptrend.
If the lower trendline doesn't hold, I will be opening a short, targeting at least $76.90 and potentially looking for stacking short orders.
Currently still in "'Sit Tight and Assess'" mode, trying to not look up or down, but just let the market do its thing.