Ring Ring whose there : hi there we are oil bears

Disclaimer : It is not a financial advice am not a professional I don't take responsibility for your loss
Just for educational purposes.......


This is your host k902............................ back at your service

Called oil top at 117 tracking oil for 4 months so oil has done it distribution lots of traders been set up being trapped in longs or bought oil in anticipation of recession now when finally it breaks today I will not say much
Because bulls still think this is buying the dip opportunity, they have been buying the dip since 117 and some will continue to buy till bottom. it is good time to look for shorts not longs

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You must be asking about what about falling wedge, yes there is but I see zero to non-bullish divergence on weekly

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What about oil target, where will oil find next support around 59 bucks give or take few bucks

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Oil still can do something like

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month macd has cross to downside