Chart of the Day Oil

Oil at the top of the channel

 

Oil is reaching again the channel top and a strong downside support 57-57.50 zone. Only a confirmed daily close above this zone would lead to an extension higher into 60. A rejection here would leave the channel range swing in play to lead the instrument lower for a 54 retest.

ARMAT trading system is pointing lower

Note: look for the short trade entries with the stop loss above 57.50 level.

 

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