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Oil is Still Bullish as the Retracement is Underway

By:

Nenad Kerkez

Published: Sep 20, 2021, 10:06 GMT+00:00

Oil is dropping as the price is still in a retracement. Watch for a possible rejection at the POC zone.

Oil is Still Bullish as the Retracement is Underway

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The POC zone 68.25-68.80 is the zone where the price might bounce. CAD is dropping and CAD is correlating to Oil. If we see a retracement there, watch for a move towards 70.80 and 73.79. If bulls want to stay in control the price needs to stay above 67.00. Buying the dips is still the strategy to go with.

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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