Oil in downward channel 77 next ?

2 mag

Oil is in downward channel recent price rejected from 79.80 top of the channle expecting it test 78 and 77 if this price action follow through happens mentioned levels possible.

2 mag

Nota

as expected it to test 78 made a short entry

2 mag

Nota

Missed by few cents to 78 made double bottom exited there

4 mag

Trade attivo

78 level acheived

6 mag

Nota

Aproaching resistane here if rejected we might see 78 and again if continues further 77 will possible. Over resistance if sustains shorting invalid

6 mag

Nota

6 mag

Nota

8 mag

Trade chiuso: obiettivo raggiunto

77 acheived

11 mag

Nota

Resistance strong at 80 area trading in range of 77-80 until break out happens out of this range ,one can patiently wait for extremes of this range and watch for rejection or breakouts low/high of the ranges will be good probability trades with low risk high profit trade.