Chart of the day

Oil is testing the support of 77. A bounce from here and a break above 83.80 is required for the upside continuation higher after the long-term triangle has been broken.

I expect a bounce from here and an extension higher if we get a price action bounce. Price action can also go sideways in the familiar range. A break below 75 will lead to a deeper pullback.

_{Look for the long trade entries with a stop loss below 76 as it is a low Risk to Reward entry. Short trades you can take in the case of a confirmed price action break below 75.}