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Oil Triple Top for Bearish Pressure at the POC

By:
Nenad Kerkez
Published: Apr 20, 2021, 10:13 UTC

Oil is having a difficult time breaking the high due to the triple top and CAD moves. We should see a move down.

WTI and Brent Crude Oil

In this article:

Oil is having a difficult time breaking the high due to the triple top and CAD moves. We should see a move down.

The 1-2-3 emerging pattern happens in the zone and we might see a move down if the resistance stays strong. A drop might happen between 64.43-65.35 as it is at 78.6-88.6 retracement of the last swing. Targets are 62.89 as an intraday target and 61.71 as the swing target. Watch for price action.

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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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