US Oil is moving towards a support line which it has tested numerous times in the past. We have seen it retrace from this line before, so at this stage it isn’t clear whether it will breach this line or rebound as it did before. If US Oil continues in its current trajectory, we could see it reach 59.6238 within the next 21 hours.
After testing the support line numerous times, US Oil is once again approaching this line. Can we expect a bearish trend to follow?
