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CFDs on WTI Crude Oil
Short

USOIL Possible Bear Continuation Targets

By Zoen_Trieste
Updated
USOIL is being well supplied after pulling back to the grand 45 degree line coming down from the top. If 5000-5050 area fails, the bear case becomes more relevant. Assuming pre mortem conditions, the inventory report turning this around and supply being dried up by incoming new demand, it is reasonable to look for entry opportunities on the lower timeframes. It's better to get out after being proven wrong shortly after entry than hold the bag for who knows how long.
Comment
USOIL 1H snapshot Here is lower timeframe perspective at the same picture
Trade active
Sold here, 70 ticks stop
Trade closed: stop reached
1R loss on this short setup
45degreeangleChart PatternscontinuationpatternsGanngannanglesOiloilshortTrend Analysis

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