Oil Gap at Weekly Resistance

February 28, 2017

Yes, that’s oil STILL at weekly resistance.

Click the link in that blog from early February to take a look at the higher time frame chart, or bring up the commodity on your own MT4 platform.

I’ll stick with just showing the daily chart here today, focusing on something that I haven’t brought up in any of the most recent oil blogs, that you can find on the News Centre.

Oil Daily:
160228_oil_daily
Click on chart to see a larger view.

What I’m talking about is the gap I’ve pointed to with the arrow to the left. While price is teasing the level, it hasn’t actually touched it. Whether close enough is good enough as this gap also coincides with the weekly resistance zone, I’m not sure.

Do you see significance in this gap?

Why not open a live account and experience the commodities trading difference with Vantage FX today.

Dane Williams – @VantageFX

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