WTI Oil has reached an important area of resistance. The pair has also formed a Doji on Daily Timeframe. A correction is expected to the next support area of 58.25.
This is a counter trade so be very careful as the price could continue to shoot higher specially after it broke the descending trendline and the price is still hovering above support in 4H chart.
I am looking to trade it if I see a 4H candle breaking support ( black line on below chart ) but I will exiting the trade if I see any sign of strength
This is a counter trade so be very careful as the price could continue to shoot higher specially after it broke the descending trendline and the price is still hovering above support in 4H chart.
I am looking to trade it if I see a 4H candle breaking support ( black line on below chart ) but I will exiting the trade if I see any sign of strength
Comment:
The price slipped as we talked although I did get stopped out on that spike.... :(
Comment:
Huge bearish movement. Target reached. Still holding some position that I will trail. There is room to keep falling to the 54.4 area