How are you doing with these good markets, friends?
Today we have an update oil as well
In the past days and weeks I talked about rising from the 69.750 areas as a key to rising when oil was negative on the daily frame negative and we have a rise to the $80 point
And we will see more rising with the break of the 72.500 area and indeed we saw this rise as we expected
And I told you that it is expected that we will see a decline with reaching this level and indeed today we saw a somewhat violent decline from the small time frames
We have two scenarios
The first is that the daily time frame is still positive but we will see a decline on the small time frames and this will take us to levels perhaps 73 and rise again
The other scenario is if it is broken strongly next week or this week with the weekly closing it will turn into a negative daily frame and we will go to lower areas
We will see more decline until 69
You have this chart you can check the break of each line where the market will go