Oil Flag
Updated
US Oil appears to be making a Flag Pattern on the weekly charts. ( Start of the pole is 66 and flag is between 120 and 97)
Price has rejected the weekly close of 120 and moved down through trendline support.
If price moves further south, then 97 would be the target.
The 92 level is of greater interest as it has acted as S/R over 4 weeks.
Price has rejected the weekly close of 120 and moved down through trendline support.
If price moves further south, then 97 would be the target.
The 92 level is of greater interest as it has acted as S/R over 4 weeks.
Note
Oil fallen through the clouds and trendline support... the opportunity is for a Range Sell. 
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