Monthly Trend Line Rejection - Wait For Stabilization
Crude oil was rejected off the monthly trend line @ $67, and was not able to recover before falling below the MA @ $64. The MA is now acting as resistance. Today we broke below support again at $62.70, and the bearish momentum brought us down to $60.70. Now i'm watching and waiting for the stabilization around the $60-$60.50 level in order to re-analyze. Follow me to stay updated!
