Oil: trend is short, new short only after a break of the diagonal support

Oil keep it’s negative move in the mapped channel.

Price is between MA50 and MA100. A move of the price below 47.70 and below the diagonal support will give us a signal for new sell in the trend direction.

In the last few days some unprofitable platforms have closed. This means that price will remain under pressure, sentiment is for weak oil. Worse data from China also have a negative impact.

We wait a break for sell

 Varchev Traders

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