Short Oil after its upward retracement

Short

CFDs on Crude Oil (Brent) (FX:UKOIL)

Updated

FX:UKOIL CFDs on Crude Oil (Brent)

Oil brent crude

oil brent crude

Short Oil upon upward retracement

Comment:

Downtrend trendline (dotted blue line) seems to hold. If it won't fully retrace up around 36.26, then THERE WILL BE NO TRADE. No need to force ourselves to participate in the Oil crash in the meantime.

Comment:

Nearing our projected retracement levels, once it breaches above 35.00 level, watch for bearish candles and we will short.

Comment:

Nearing our target to enter short

Comment:

Prices have overshoot from our target entry. There has been no trade on this play and we create another strategy for this.

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