Oil rebounded and recovered losses from last week but is once again resisted at the top of the entire symmetrical triangle.
Commodity prices have been somewhat cooling off a little as China clamps down on hoarding of supply which could somewhat cool off the oil market for a short while.
Traders may consider selling at the range top now with very limited risk on the upside and a pretty good reward if it goes down even to the equilibrium level just below 64.
Commodity prices have been somewhat cooling off a little as China clamps down on hoarding of supply which could somewhat cool off the oil market for a short while.
Traders may consider selling at the range top now with very limited risk on the upside and a pretty good reward if it goes down even to the equilibrium level just below 64.