West Texas OilShort
Will sellers push beneath?
Sellers pushed off the major resistance/supply zone ($94.111=$93.419) at the 4hr timeframe. A perfect break and retest pattern were also created by sellers pushing below the trendline support.
We can see a drawn intraday support level on which the price rests. If sellers should push prices beneath the intraday support zone, then I speculate taking a sell trade. My profit target would be at the Daily lows, $78=$76.500.
We can see a drawn intraday support level on which the price rests. If sellers should push prices beneath the intraday support zone, then I speculate taking a sell trade. My profit target would be at the Daily lows, $78=$76.500.
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