USOIL - Increased bearish momentum

FX:USOIL   CFDs on Crude Oil (WTI)
Trade Idea

Although an initial rally was posted, sellers emerged and follow through bearish momentum resulted in all the previous day's gains being overturned.
The bearish engulfing candle on the daily chart is negative for sentiment.
Although the bulls are in control, the stalling positive momentum indicates a possible turnaround is possible.
Rally capped by the daily Ichimoku Cloud .
Further downside is expected although we prefer to sell into rallies close to the 56.00 level.

We look to Sell at 56.00
Stop: 56.50
Target 1: 54.50
Target 2: 53.50
FREE Telegram Group -
FREE Trade Ideas -
FREE Education and Insights -
Video Content -
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Help Center Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing TradingView Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out