TraderOfSwag
Long

Correction or reversal for Crude Oil?

TVC:USOIL   CFDs on WTI Crude Oil
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We saw a savage selloff last week in CrudeOil but it is reaching good levels to try to catch a long position. I want to see how the market opens tomorrow but looks to me that it will go to the yellow resistance and then I will enter a Long once price is rejected there. Otherwise it would be better to wait and if that support is broken then enter a short as part of a continuation pattern.

Keep in mind Oil is oversold so I would be cautious to keep selling at this level.
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