US30 has been in a sell-off in the last week or so. This is in line with the rest of the risk-on markets. From a technical stance price was forming a reversal pattern indicative of exhaustion and potential loss of buyers momentum. We have since broken out of the reversal pattern. If we are to receive a weekly close below the zone marked we could continue downward momentum into the next zone marked. Remember with such momentum follows a relief or profit-taking.
Trade safe
Sunny
Trade safe
Sunny
Comment:
Demand zone being respected .