Oil: Close below 51 might trigger a big sell off
Oil chart doesnt look good for bulls at all, if it closes below 51 (which seems to be the "demand" line) we might see a massive sell off to last year's lows. However, seasonally oil rallies in August 70% of the time (long August 7th to 27th)
It's in "no mans land here" basically with the conflicting signals , probably safer to just daytrade it until we get a clearer picture.
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It's in "no mans land here" basically with the conflicting signals , probably safer to just daytrade it until we get a clearer picture.
**If you're interested in joining a group of like-minded traders, send me a PM. This is NOT a subscription service, just bunch of average traders sharing insights in a FREE group
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