WTI Light Crude OilShort
Oil Short
Round 2 for an oil short Looking to short once oil has closed the gap it made on Sunday.
For now oil is in a short term downtrend, if this gap is closed and broken past to the upside then we can expect a more bullish oil in the near future.
For now looking at a trendline bounce trade idea.
Entry- on the 61.8% Fibo at 70.4
Sl- 65 pips
TP- Targeting the 38% of the current fibo structure at 69.15.
Confluences:
Trendline 3rd touch
Key Level
61.8% fibo
H6 50EMA (Not strong confluence but its present)
Trade safe and catch you later traders ▲
For now oil is in a short term downtrend, if this gap is closed and broken past to the upside then we can expect a more bullish oil in the near future.
For now looking at a trendline bounce trade idea.
Entry- on the 61.8% Fibo at 70.4
Sl- 65 pips
TP- Targeting the 38% of the current fibo structure at 69.15.
Confluences:
Trendline 3rd touch
Key Level
61.8% fibo
H6 50EMA (Not strong confluence but its present)
Trade safe and catch you later traders ▲
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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.
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.