Oil Hit resistance 97.00 back to 100.00

Oil Hit resistance 97.00 back to 100.00

1. Oil are in Down Trend. What make, Up trend more risky. And is why this trade especially, are high risk.

2. After hitting a natural resistance at 97.00 on Oil. Market start to consolidate. So far we don’t see any strong buyers, but it should come very soon. If it doesn’t, seller may break the 97.00 resistance and then create news highs.

3, There’s are many resistance, you can see in this area. The fact, sellers fail to close under 97.00, and create an Inverted H&S pattern. It make this trade interesting.