Oil Technical Analysis for September 7, 2020 by FXEmpire
from fx empire this is chris taking a look at the crude oil market you can see that crude has been um a bit negative during the trading session uh but what i'm seeing here are hints
That we are going to go lower and now that the wti is below 40 that's a pretty negative sign i think that we could drop down towards 35 maybe even 30.
So at this point i like fading short-term rallies at least until we take out this candlestick here it we finally have done something and that's pretty much what traders have been waiting on same thing
Here in brent we're below the 50-day ema 40 i think is a target i'd like to fine-tune my shorts so i will look for short-term rallies that i can take advantage of um but uh you know signs of exhaustion i
Guess is what i'm looking for so with that being said i like the idea of fading this market and continuing to go lower