The price has been able to rise higher than the previous peak and this is one of the bullish signs. Price is likely to test the trend line, which I think can be crossed given the strength of the trend.
Or continue to correct after the test and move from the $87 support area to the downtrend line.
Or continue to correct after the test and move from the $87 support area to the downtrend line.
Note
Oil demand area
Disclaimer
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.
Disclaimer
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.