Oil Strong Resistance Above
August 12, 2021
1 min read
Dear traders,
Oil has made a move in the 78.6-88.6 zone and we could see a drop soon.
69.09-69.59 is the zone where sellers might be waiting. We can see that a trend line is protecting sellers from further losses as the price might turn bearish. A rejection off the zone should be targeting D L3 68.60 and further levels down 67.84 and 66.48. Look for selling into rallies.
The Analysis has been done with the Black Widow system.
Good trading,
Nenad Kerkez
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