WTI Oil Possible Short Setup
Updated
WTI Oil is currently on a major supported and the price has been respecting the uptrend line.
It is forecasted to breakout to the downside according to the technical analysis as the bulls are running out of steam in addition to the major resistance handle.
However, if the price breaks through the 52.50 handle, another setup will be posted.
Trade Levels:
- Entry Price @ 51.90
- Stop Loss @ 52.70
- Take Profit @ 50.20
- Risk/Reward: 2.15
Cheers!
Happy Trading!
It is forecasted to breakout to the downside according to the technical analysis as the bulls are running out of steam in addition to the major resistance handle.
However, if the price breaks through the 52.50 handle, another setup will be posted.
Trade Levels:
- Entry Price @ 51.90
- Stop Loss @ 52.70
- Take Profit @ 50.20
- Risk/Reward: 2.15
Cheers!
Happy Trading!
Trade closed: stop reached
Stop loss has been reached with 80 points down.Cheers!
Happy Trading!
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