Oil - Bearish outside candle negative for sentiment

USOIL

Crude Oil - Intraday - We look to Sell at 56.50 (stop at 57.00)

Although an initial rally was posted, sellers emerged and follow through bearish momentum resulted in all the previous day's gains being overturned. Price action has posted a bearish Outside Day and is negative for short-term sentiment. Further selling is expected to follow with the hourly Ichimoku cloud and our bespoke resistance (56.50) offering incentive.

Our profit targets will be 55.00 and 54.50

Resistance: 56.50 / 57.00 / 57.65
Support: 55.00 / 54.50 / 54.00

Trade active:

Triggered short trade and prices have flirted with the stop before pulling back

Trade closed manually:

This was an intraday idea which closed in profit (21:00 UK time)