All posts from TradingView
TradingView in TradingView,

CL1!, Downtrend line broken

CL1!, Downtrend line broken

Oil has finally broken the downtrend line that started back in July-Aug 2014.
Price closed above downtrend line on log scale on this weekly chart.

Under normal technical situation price would go higher and return to test the downtrend line to
confirm whether it has turned into support from resistance

i will keep my long as for now - Bullish

Remember: trade your own plan, because you know how much you can risk