I am convinced that this might be a potential signal to go short in Oil. It means, if 104.2 is really the real decision point, price should rotate down, where the first target zone might be around 97.6, which is a prior low and a potential second target zone might be around 92.0, which is a major support in the long term.
Full analysis in my new blog post here:...
If you believe the weekly trend has turned higher on Crude then one way to play the higher time frame trade is with The BoT. Here we ought to be long currently from 100.83 with stops still at 97.34. Should we hit 104.33 we can then move our stop to just under our original entry. Lets see if the current bull rally can hit that level. Regardless, that bullish ab=cd...