Earlier oil showed a turn in week the graph, then we observed correction similar to a triangle. Further there was an exit from a triangle up that speaks about further growth. However, the MACD indicator on the week schedule indicates attenuation of the movement up and the forthcoming turn. I consider that the price moves in the descending channel designated by me and about 88 have the first purpose for falling level. It can be seen by means of Fibonacci's stretching.
Information provided is only educational and should not be used to take action in the market.
Information provided is only educational and should not be used to take action in the market.
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MACD on 4 hoursNote
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.