4hr chart showing a counter trend trend line break with commercials at all time high in short positions. This could lead to WTI falling back to $60.00.
Looking for short opportunities down to this area.
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I suspect that this market is going to continue to find plenty of support at the 1.25 handle, and then again won’t be able to break out to the upside, at least not for a significant move. The next couple of days are going to be very choppy and sideways, so therefore very unlikely to be ...
1.Daily Trend line Broken
2.Support Broken Resistance Valid
3.Profit margin 1:3
4.Price action high on the curve
5.Strong price action move up to the zone
1. There are numerous support (minor)v obstructions
1.Weekly/Monthly Trend line broken
2.Resistance broken Support valid
4.Profit margin 1:6 (Rounded)
5.Bottom Bollinger Band on daily timeframe above support zone which validates that there is major obstruction in and around the level
Price action filled gap but did not have enough bullish power to go above and beyond