Oil in downward channel 77 next ?

2 May

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 May

Not

as expected it to test 78 made a short entry

2 May

Not

Missed by few cents to 78 made double bottom exited there

4 May

İşlem aktif

78 level acheived

6 May

Not

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

6 May

Not

6 May

Not

8 May

İşlem kapandı: hedefe ulaştı

77 acheived

11 May

Not

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.