Double top and Trendline break

Clear double top in CL. Together with the daily trendline break, outlook is bearish in the medium term. Fundamentals are helping drive this move down, however that may change at any given moment. First support is around 42 (1st Fib) and then from 40-39 VVAL and 50% Fib. Vigilance is needed at these levels since around 45 is the VPOC which may act as a magnet

ความคิดเห็น:

CL1! broke yesterdays low, still bearish

ความคิดเห็น:

CL1! coming into first support

ความคิดเห็น:

OPEC Saudi comment drives prices up

ความคิดเห็น:

Swing failure into first support. Could see some consolidation around 45 (VPOC) as discussed

ความคิดเห็น:

Consolidation around 45. Should see accumulation (sideways action) around these levels before another move

ความคิดเห็น:

Shorts need to be vigilant as USOIL PA is looking like a bull flag

ความคิดเห็น:

Novak comments on possible oil output freeze. Fundamentals take the lead