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Is the fourth time the charm for this oil rally?

Discussion in 'Technical Analysis' started by ForexLive, Aug 11, 2016.

  1. ForexLive

    ForexLive Forum Member

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    Oil keeps bouncing back Yesterday we were looking at the failure in WTI around $43 area. We'd seen triple top in place and I warned that a break of 42.00 could be trouble. It did, and it was and we saw the best part of a buck come off the price before it stabilised. And guess what, here we are back up at the $43 area banging our head on the recent highs, in no small part due to waffle from the Saudi's.

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