Oil triple top for bearish pressure at the POC

Nenad Kerkez Top-XE

Oil is having a difficult time breaking the high due to the triple top and CAD moves. We should see a move down.

The 1-2-3 emerging pattern happens in the zone and we might see a move down if the resistance stays strong. A drop might happen between 64.43-65.35 as it is at 78.6-88.6 retracement of the last swing. Targets are 62.89 as an intraday target and 61.71 as the swing target. Watch for price action.

The analysis has been done with the CAMMACD.Core System.

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Author

Nenad Kerkez

Top-XE

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