OIL Buying the Dips Continues

2 min read
Nenad Kerkez

Nenad Kerkez

Head of Trading

Dear Traders,

Oil is still bullish despite the ranging market conditions. Dips are being bought but the price is mostly sideways.

The 40.40 zone could be good for another wave of buying. A deeper pullback towards 39.90 is the final intraday support for oil bulls. If we see a bounce then 41.50 is the final level where probably sellers are. Only a daily close above 41.50 could make OIL continue towards 42.00. At this point we can see a retracement which could bring the price into the POC zone.

The analysis has been done with the CAMMACD system.
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Many green pips,
Nenad Kerkez aka Tarantula FX
Elite CurrenSea

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