Hi,
Once again USA and China Tensions rises on Covid 19 epidemic.
Technically Oil is Overbought territory, showing some Divergence in RSI.
If it breaks the channel than indicates some Bearish bias.
Important Levels:
If it breaks the channel ascending trend line and $20.15 and placed Hourly candle below this than you can Enter.
Or
Retest of broken structure of same above levels.
Take profit at: $18.10 and $16.80
Stop should be $23.50
Every System has a limitation.
Please share your ideas in comment section.
Once again USA and China Tensions rises on Covid 19 epidemic.
Technically Oil is Overbought territory, showing some Divergence in RSI.
If it breaks the channel than indicates some Bearish bias.
Important Levels:
If it breaks the channel ascending trend line and $20.15 and placed Hourly candle below this than you can Enter.
Or
Retest of broken structure of same above levels.
Take profit at: $18.10 and $16.80
Stop should be $23.50
Every System has a limitation.
Please share your ideas in comment section.