Oil in downward channel 77 next ?

Oil is in downward channel recent price rejected from 79.80 top of the channle expecting it test 78 and 77 if this price action follow through happens mentioned levels possible.

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as expected it to test 78 made a short entry

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Missed by few cents to 78 made double bottom exited there

Operación activa:

78 level acheived

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Aproaching resistane here if rejected we might see 78 and again if continues further 77 will possible. Over resistance if sustains shorting invalid

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Operación cerrada: objetivo alcanzado:

77 acheived

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Resistance strong at 80 area trading in range of 77-80 until break out happens out of this range ,one can patiently wait for extremes of this range and watch for rejection or breakouts low/high of the ranges will be good probability trades with low risk high profit trade.