Oil prices have been consolidating between $54 -$58 a barrel the past 3 weeks.
We can expect the oil prices to form a triple top and then to drop to lower levels such us $51 & $49 .
The $57.32 area shows a significant support as the 800 EMA and the 0.392% mnth fib level match at the same point.
We can expect the oil prices to form a triple top and then to drop to lower levels such us $51 & $49 .
The $57.32 area shows a significant support as the 800 EMA and the 0.392% mnth fib level match at the same point.