Texas Oil may have a hard time breaking above the zone of 63-77 as the MACD has given us Bearish Divergence and Bearish Crossing along with that the RSI is at Mildly Overbought levels and we are at a clear Resistance zone. I wouldn't be surprised to see this make a corrective retrace down to 50s, 40s, or even the 30s which are where the next major supports are.
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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.