Green line -support trend line
Black lines -Fibonacci retracement
Oil prices formed a lower high this week around $114 and price is now again below $110. Oil price has broken once again below the important upward sloping support trend line and has potential to form new lower lows below $104.50. Oil price bounced from $104.50 and retraced a little bit more than 50% of the decline from $123,67. Price remains vulnerable to more downside as long as price is below $114. Failure to hold $104 will open the way for a bigger decline towards $90-$85. I believe this is not a good time to remain bullish oil, specially if price fails to hold $104.
БЫСТРЫЕ ССЫЛКИ
ForexMart is authorized and regulated in various jurisdictions.
(Reg No.23071, IBC 2015) with a registered office at Shamrock Lodge, Murray Road, Kingstown, Saint Vincent and the Grenadines
Restricted Regions: the United States of America, North Korea, Sudan, Syria and some other regions.
Контакты 
