Chart of the Day Oil

Oil is rejected by the broken downside resistance 

Oil is rejected again by the broken downside resistance 55.50-56 zone. A rejection from here will lead to a downside extension into 50 level. Only a daily close above 55.80 could invalidate a downside extension and that is where the stops for the short trades should be. ARMAT trading system is pointing to short 

Note: look for the short trade opportunities with the stop loss above  55.80.

 

 

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