With the recent Cold freeze in Texas has caused some supply disruption and also triggered more demand for the energy. This puts a pressure on the inventories. Oil is still trading in the HTF strong resistance area & seems lost steam for the upward momentum. I believe Oil is all set for the trend reversal.
In 1hr Chart Oil is currently trading below 20EMA and around 50EMA.. Wait with patience to go short with SL, Only after confirmation!!
In 1hr Chart Oil is currently trading below 20EMA and around 50EMA.. Wait with patience to go short with SL, Only after confirmation!!
Trade closed: target reached