Crude oil is under severe selling pressure.
We expect a profit booking rally (wave 4, according to Elliott wave) is on the cards now and the current price zone could be a potential reversal zone.
However, to be on safer side, we advise traders to go long on the breakout of the marked trendline.
We expect a profit booking rally (wave 4, according to Elliott wave) is on the cards now and the current price zone could be a potential reversal zone.
However, to be on safer side, we advise traders to go long on the breakout of the marked trendline.