Oil is making a descanding triangle which indicates selling pressure. If price breaks through the support line, there is room for the price to go to $47.75 which is a support zone at the 75.6% fibonacci level.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
