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Short

USOIL: OIL SHOULD GET SOME REST FROM THE TOP

TVC:USOIL   CFDs on WTI Crude Oil
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Traders:

Oil has been pushed up because of news of the limit production result of OPEC conference.

Now we have several reasons that oil is making a top for these days and could drop down a little be for a retracment:

a. in the beautiful ascending channel , the last top make the end of wave 3.
b. wave 3 finished at ext FIBO1.414 of wave 1 which usually would be the end of last trend.
c. a clear RSI4h div appear.
d. a small ascending channel on the top has been broken.
e. usoil made the first small drop yesterday which is from 52.3-50.9

Now what?
Waiting for the retouching of the small ascending channel on the top and short trade in again.

Less is more!

Trade closed: target reached
Comment: $1.5
150 pips.
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