Price is making an impressive rallies from the lows and now we are possibly forming a typical wedge pattern. If we break, we could $32.50 a barrel be priced and longer term targets are also possible.
There is a high probability that we will see a sell off, at least to the $25 mark. Price made a double top and now we are retesting structure through a correction. If we see a break, lower prices could be exposed.
Will be keeping an eye on this one.
Gartley pattern forming on 1Hr Time frame on OANDA:WTICOUSD
The D Completion point ends right at a structure level and at a 50% Fib level from the bigger move.
Easy Money :)
Simple short bias day trade on US Crude Oil. There is more pain to come until they cut production massively and I believe we will likely see negative prices on 1st to expire futures contracts again.
Target set at daily S1 level
wti can not last long at this price ? I believe short term we may see a little more down trend but it needs to be up near the $40's for production costs etc, i will prob enter on a buy stop around the $20 and be looking to take profits around the $30,$40,$50 and even $60 mark but thats me stoploss wise id not like to see it hit below $17 but to be safe ill be...
Short OIL (unless 22 breaks upwards)
Saudis not giving up on his so far, no demand, aeroplanes grounded, China running on demand from Mars? (no where else is really open for business properly)
