1 Attachment(s) We can notice the bearish trends on oil predominate, supported by ADX despite the huge disturbance seen on the indior.
Assessing indiors, oil remains covered by moving averages, while prices are stable within the descending channel below 44.00 levels.
Yet, oil is quite near 113% Fibonacci at 41.06, offering improper risk versus benefit ratio for trading; hence, we will be neutral today.
Support: 41.60 41.00 40.50
Resistance: 42.30 43.00 43.30
Direction: Sideways