Scatch

Scatch

Very basic setup here. I think it is very likely though. This channel doesn't have much confirmation yet but a rejection in the marked area would be a very strong short indicator. A little relief rally will get it there but bearish expectations from the China PMI number will continue the sell-off into oil reports. Good luck to all!

Scatch

Closed with a 1H bearish divergence in USOIL. Expecting a drop back down to $44.00. Hoping for further shorting opportunities from there, but will play it by ear. Good luck all!