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oil has been falling knife for a month now. I have found that it is currently testing the 50% retracement level from previous 40s area to the 75s area. So may be oil will find some breather here. be cautious , hop in with small volume. target should be 61.5$ from here , currently trading at 59.80$ area. Stop loss , will be on daily close below 59.30$ check the chart below and share your findings with me. Also remember to follow me on twitter for updates.

WTI , crashed from 69.85$ earlier this morning to 69.10$ in just one hour . where it found support. The pair faces strong resistance at 69.85$ , if broken , it will have room towards 70.25$ maximum , however a break below 69.20$ will bring 68.50$ to attention then 67.85$ The main look remains bearish , stay short as long as we are below 69.85$ , it is currently trading at 69.56$ where it faces some resistance and might reverse lower again. You can add short position if we managed to reach 70.25$ ..however , i dont see any chance for a revisit to this area again anytime soon.

Bears are still in control of brent after reaching multi month high of 58$ . As you can see below , it is still capped by bearish trendline on the 1h chart and broken a rising support trend line. Wish you all profitable trading!!! If you want to copy my trades and make consistent monthly income ; Subscribe to my signal on mql5 : https://www.mql5.com/en/signals/221947