Last line of defense for Oil?

Oil is below its 200 days MA line today.
Now testing the last line of defense - Trend line
A close above the 200 days MA line will create a False Break and potential rally in Oil
A breakdown of the trend line and.... BOOM

Comment with your thoughts

Kommentera:

Buyers drive Oil back above 200 days MA line.
If it'll close above it, it can be an interesting buy.

Kommentera:

Reversal complete - 200 days MA line should act as support now

Kommentera:

Oil is testing the trend line again after rejection from the 200 days MA line. Doesn't look good for Oil but the trend line is still alive - Watch