Dmytro Kharkov

Jake Wujastyk: Oil breaks down through triangle support as MACD nears downside cross

Jake Wujastyk: Oil breaks down through triangle support as MACD nears downside cross
Oil breaks key support, MACD signals turn

Jake Wujastyk, founder / CEO at TrendSpider, highlights that oil futures and U.S. Oil Fund are breaking through symmetrical triangle support, with the MACD indicator approaching a downside cross.

This technical setup signals potential bearish momentum for oil prices.

Wujastyk has recently tracked notable options activity, highlighting unusual ask-skipping in NFLX 5/15 call options. He has also pointed to green stocks maintaining gains during a broader market decline, indicating potential leadership among these names. His observations continue to focus on technical setups and standout market moves across asset classes.

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