CFDs on Crude Oil (WTI)
Short

UOIL ANALYZE # 1. Is this the right time to take a short positio

82
I missed the first opportunity(marked in a chart with an arrow) last Friday, but this chart is going on my watchlist to find another chance to take a short position.

As you can see in the chart, the price fluctuates between 70.36 and 72.88 within the green rectangle range box.The last downtrend wave that broke the support level at 70.433 is very strong, and it began from the top of the range box. The target area marked on the chart is a key level and a very strong support for WTI.
Actually, when the price broke the 70.40 support level, I could have taken a short position, but considering the stop-loss size, it was not easy to make a good gain.
I'm going to wait for a price correction. If I find a sell setup, I'm going to take a short position.A lower low and lower high are going to be the next short trigger.

Trading futures is always risky. Always do your own research and analysis. Do not forget the most important part: risk management. No one can predict how financial markets will behave with certainty.

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