fxmonarchy

OIL short - Technical outlook (towards nearest supply zones)

TVC:USOIL   CFDs on WTI Crude Oil
Charts from both weekly and daily timeframes look quite bearish. Up trendline cease is finally confirmed after failed attempt to make new highs.
In this case 58 and 55 are main two targets, entry goes from 200sma breakdown on daily + 0.236 fib breakdown. USOIL

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