- Crude oil under pressure on D1 timeframe
- H4 timeframe confirms that bears are in control
- Keep eye on Parabolic SAR and MACD
- Three potential bearish targets identified on H4 chart
- If the 83.94 level broken, H4 bearish scenario invalidated
Oil prices remain dominated by bears on the daily timeframe as the global commodity creates a lower top followed by a lower bottom.
This represents a downtrend that could send prices toward the weekly support level of 80.45. However, bulls have the potential to jump back into Read More