The bullishness has stopped in Asian session by 40.00, which meets moving averages, while prices couldn’t stabilize above this level.
In fact, trading below 40.35 -13% Fibonacci- is negative, while ADX attempts to overlap positively.
We will avoid trading oil, as RSI trades below 50.00.
Support: 39.00 – 38.55 – 38.00
Resistance: 40.00 – 40.35 – 41.40
Direction: Neutral