US Oil is moving towards a resistance 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 75.3724 within the next 9 hours.
US Oil is approaching a resistance line of a Falling Wedge. It has touched this line numerous times in the last 5 days.
