My Reason behind US OIL SHORT. Break down to the 1-hour time frame for further details
This has been Ascending UP Trend for a few months. Just had a massive sell-off that now offers an increased chance for huge gains. Provided that the next earnings report is positive.
Slow moving low volume. But this specific stock has a steady trend of the upward climb. It also shows repeating gap pre-market. With it being 70% up gaps to 30% down gaps. The 7:1 chance of it being an up gap each day. Today was the day it dropped pre-market and after opening bell. that means a 70% chance for an up gap next week.
Solid Up Trend Over 30 Days. Reached next resistance level. If break Past possible gains of 5-6%.