US OIL POSSIBLE REVERSAL AT MAJOR RESISTANCE
PRICE ACTION IS ONCE AGAIN HEADING TOWARDS THE $54 MAJOR AREA OF RESISTANCE THIS YEAR. ALL ATTEMPTS SO FAR BY THE BULLS THE BREAK IT HAVE FAILED.
WILL BE WATCHING THE 4H CHART FOR A POSSIBLE REVERSAL AT THE RESISTANCE FOR A GREAT SHORTING OPPORTUNITY WITH A TIGHT STOP JUST THE OTHER SIDE.
ON THE CONTRARY IF THE RESISTANCE IS BROKEN DECISIVELY IT OPENS THE DOOR THE $58 AREA. IF IT IS BROKEN I WOULD LOOK FOR A RETEST TO CONFIRM THE RESISTANCE HAS NOW TURNED SUPPORT AND ONCE AGAIN ENTER ON THE 4H CHART WITH A TIGHT STOP JUST THE OTHER SIDE.
WILL BE WATCHING THE 4H CHART FOR A POSSIBLE REVERSAL AT THE RESISTANCE FOR A GREAT SHORTING OPPORTUNITY WITH A TIGHT STOP JUST THE OTHER SIDE.
ON THE CONTRARY IF THE RESISTANCE IS BROKEN DECISIVELY IT OPENS THE DOOR THE $58 AREA. IF IT IS BROKEN I WOULD LOOK FOR A RETEST TO CONFIRM THE RESISTANCE HAS NOW TURNED SUPPORT AND ONCE AGAIN ENTER ON THE 4H CHART WITH A TIGHT STOP JUST THE OTHER SIDE.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.