Oil is still trading in a negative range that supports its continued decline in a new wave
Its negativity is also supported by the presence of the price in a resistance area. Momentum also moves in five upward waves below a trend line of negative divergence that supports the decline. And all of this, do not forget the weekly outlook, where the price follows the same price behavior as the previous decline
Therefore, the price is now for sale, at the top of the area, with the downtrend penetrating the momentum
Information... If the downtrend penetrates the momentum, it will be a signal that a new upward trend has begun for a new upward wave of 70%.
Its negativity is also supported by the presence of the price in a resistance area. Momentum also moves in five upward waves below a trend line of negative divergence that supports the decline. And all of this, do not forget the weekly outlook, where the price follows the same price behavior as the previous decline
Therefore, the price is now for sale, at the top of the area, with the downtrend penetrating the momentum
Information... If the downtrend penetrates the momentum, it will be a signal that a new upward trend has begun for a new upward wave of 70%.