Oil - Bearish outside candle negative for sentiment

FX:USOIL   CFDs on Crude Oil (WTI)

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
Jul 25
Trade active: Triggered short trade and prices have flirted with the stop before pulling back
Jul 26
Trade closed manually: This was an intraday idea which closed in profit (21:00 UK time)
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Thanks got lucky with my analysis. I would look to add shorts around the 58.3 mark
Possibly I’m in long 55.7 target 57.2
@fali4209, Nice trading!
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