Oil is about to breakout. Will it break to the upside...or break down?
Question, how does the 200 dma support the breakout thesis? Wouldn't the 200 dma act as resistance in this case?
100% correct. IF we breakout of downtrend then our next hurdle would be the 200DMA. But for swing trade purposes, I’ll take the possible $10 move. Good question!
Question, how does the 200 dma support the breakout thesis? Wouldn't the 200 dma act as resistance in this case?
100% correct. IF we breakout of downtrend then our next hurdle would be the 200DMA. But for swing trade purposes, I’ll take the possible $10 move. Good question!