Hello Traders,
Here we can see textbook example of how strong resistance can be later used as strong support , In days to come we expect channel top line to act as strong support and prevent price dipping further ,
Over all bias is strongly bullish on Oil as price was already trading in Bullish ascending channel & managed to jump above same coming out of range towards up & hence buying in dips from bottom of range towards 70 price Level is recommended.
Please follow us for more updates & ideas.
Here we can see textbook example of how strong resistance can be later used as strong support , In days to come we expect channel top line to act as strong support and prevent price dipping further ,
Over all bias is strongly bullish on Oil as price was already trading in Bullish ascending channel & managed to jump above same coming out of range towards up & hence buying in dips from bottom of range towards 70 price Level is recommended.
Please follow us for more updates & ideas.