Oil price reached the middle-term sell target, Target Zone 2 [53.58 – 53.21]. The price will fall deeper after it is consolidated below the zone. The key resistance of the trend is now at [57.53 — 57.17].
The short-term trend reversed downwards last Thursday. As a result, Target Zone [55.08 – 54.71] was reached and broken out. The next target in the downtrend is Gold Zone [53.25 – 53.07].
Last Friday, buyers corrected the price up into the key resistance zone [55.52 – 55.34]. The zone was not broken out, so, oil price is now rolling down form…
Read full author’s opinion and review in blog of #LiteForex