cLx121
Recruit
- Messages
- 0
We can notice that, the bearish tendencies on oil prevails, supported by ADX despite the huge fluctuation seen on the indicator.
Assessing indicators, oil remains covered by moving averages, while prices are stable inside the descending channel below 44.00 levels.
However, oil is very close to 113% Fibonacci at 41.06, offering inappropriate risk versus reward ratio for trading; thus, we will be neutral today.
Support: 41.60 – 41.00 – 40.50
Resistance: 42.30 – 43.00 – 43.30
Direction: Sideways
Assessing indicators, oil remains covered by moving averages, while prices are stable inside the descending channel below 44.00 levels.
However, oil is very close to 113% Fibonacci at 41.06, offering inappropriate risk versus reward ratio for trading; thus, we will be neutral today.
Support: 41.60 – 41.00 – 40.50
Resistance: 42.30 – 43.00 – 43.30
Direction: Sideways
