Cant see me taking this trade this time as it does not fit my new set of "rules" but after spending 5 minutes knocking a chart up seems I will post it up any way as that's what I enjoy doing ! Can see the bears taking control on the lower time frames so can see a change in direction now ! Can see a lot of money flowing out of oil and into gold as a safe haven...
reckon we may see a small pull back to the 20 again then going lower , which we all know we can, with spain going back into full lock down wont be long until everyone else follows ? who knows ? follow to find out !
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.
Daily chart in an uptrend making higher highs and higher lows. 4hr chart has been working within the channel and weekly pullback looking for the market to resume the trend. If we see a double bottom we could look for a break and retest of structure to take this market higher.