Chart of the day

Oil is retesting the 80.85 level which is the previously broken upside resistance. A break above 83.80 is required for the upside continuation.

A break above 83.80 would confirm that we are in the third upside wave. A confirmed break below 75 is required for the downside continuation and an invalidation of the short-term upside five waves higher.

_{Look for the long trade entries with a stop loss below 78. Short trades you can take in the case of a confirmed price action break below 75.}