Oil heading higher?

Tiki
Tiki


I think there is a bit of consolidation but I'm waiting for a break towards the upside due to the formation of higher lows since 49.39. I could get into a buy right now but there is one red candle today signifying a reduction in trend strength. Looking for a possible break of the upper resistance level at 50.34. Thoughts?

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Comments

  • JoshWinter
    JoshWinter
    Posts: 497

    I like Oil short after its big run up, but let's see what we get next week to see if oil gives us more clues of its direction.

    Always a Student. B)
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