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OIL is Bearish as 280 pips Have Been Secured

By:

Nenad Kerkez

Published: Jul 16, 2021, 09:24 GMT+00:00

Oil has formed a 1-2-3 pattern and we might see further move down. I have secured 280 pips from my entry.

OIL is Bearish as 280 pips Have Been Secured

Historical selling has been aligned with the now moment. 71.00 is the major support now. If the price makes a close below on a daily timeframe we should see a continuation down towards 69.05 and 68.56. As long as the current high is a resistance we should see a bearish correction down. Watch for price action.

For a look at all of today’s economic events, check out our economic calendar.

Cheers and safe trading,

Nenad

About the Author

Nenad Kerkezcontributor

M.Ec. Nenad Kerkez aka Tarantula is Elite CurrenSeas Head trader and a valued contributor to many premium Forex and trading websites.

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