US Oil has broken through a line of 70.7485 and suggests a possible movement to 69.4582 within the next 3 days. It has tested this line numerous times in the past, so one should wait for a confirmation of this breakout before taking any action. If the breakout doesn’t confirm, we could see a retracement back to lines seen in the last 15 days.
After testing 70.7485 numerous times, US Oil has finally broken through. Can we expect a bearish trend to follow?
