OIL is Bearish as 280 pips Have Been Secured

Historical selling has been aligned with the now moment. 71.00 is the major support now. If the price makes a close below on a daily timeframe we should see a continuation down towards 69.05 and 68.56. As long as the current high is a resistance we should see a bearish correction down. Watch for price action.

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Cheers and safe trading,

Nenad

 

Published by

Nenad Kerkez

Nenad Kerkez is an analyst and trader who has been in the market since 2008 and works closely with Admiral Markets as their Senior Lecturer and Market Analyst. Nenad covers over 25 currencies on an intraday basis and has a Masters in economics. He also developed CAMMACD TM, a proprietary trading and analysis strategy wit ever powerful pre fact setups that you can read every day. Nenad is also a valuable presenter on various FX EXPO shows, where he always presents new and interesting ways how to trade price action and protect your own investments. Further, he is the co-founder and head of Elite Currensea Trading, an educational website for currency traders.