Oil Weekly Analysis

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.