The triangle formation formed some weeks ago showed a false breakout and consequently price has resumed back within the triangle. Price is at a support trendline as we speak and if this breaks down then we could see a big move to test the lows.
Alternatively, if Oil retraces after its recent surge then we can expect price to continue back within the oscillation. With a weak dollar and gains in Oil my favorite is for the down trend to continue, time will tell.
For more information and setups, either follow me on here or at www.ejfxtrading.com
Alternatively, if Oil retraces after its recent surge then we can expect price to continue back within the oscillation. With a weak dollar and gains in Oil my favorite is for the down trend to continue, time will tell.
For more information and setups, either follow me on here or at www.ejfxtrading.com
