major support at 42.5

6 Mar 2020

If we break this support then oil will be hammered again keep an eye on a close below 42.5 weekly
notice the volume increase this week and last week
for the short term we might have a bounce if we failed to close below 42.5
the momentum now is showing weakness in oil and volumes are supporting the downtrend so short if we close below 42.5 on a weekly basis
but this is a strong resistance institutional investor might have buy positions at this level if they start selling then oil will loss heavily

9 Mar 2020

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