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HomeContributorsTechnical AnalysisCrude Oil Can be Ready to Break Out of Bearish Triangle

Crude Oil Can be Ready to Break Out of Bearish Triangle

Elliott Wave Financial Service
By Elliott Wave Financial Service

Crude down 8% since last Monday, when Biden’s administration said it is selling 26 m barr. of oil from SPR. Price testing key trendline support of a bearish triangle, which signals for more weakness in Elliott Wave terms. Daily/weekly closes below $72.50 makes room for 60-65.

Elliott Wave Financial Service
Elliott Wave Financial Servicehttp://www.ew-forecast.com/
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