A new trading range for Oil is being set up as long as there is no more disruption in oil supplies and no more escalation in the Middle East. Look to Buy oil in the mid $60s and Sell close to or above $82. For now, oil is still on a sell given that the RSI indicator is pointing down and could go to below 40 before we see a relief rally.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.