CL Looking Bearish and a GOOD opportunity to SELL now
There is no complicated science here.
The trend is your friend until its broken.
The major trend right now is down and it just broke the short-term bounce-back so it's a good time to SELL with a small position size, there is plenty of room down towards the support line.
The trend is your friend until its broken.
The major trend right now is down and it just broke the short-term bounce-back so it's a good time to SELL with a small position size, there is plenty of room down towards the support line.
Note
If you don't have a short position already now is a a better opportunity to go short at 66.59, keep SL at 67.70Note
We are now on the very end of the rising wedge and very close to the SL. It's the moment of truth.Note
CL likes to dance on the ceiling. Short trade still open.Note
If the price breaks the resistance line there is enough evidence in the technical indicators that this stock is reversing to the upside. Note
We still haven't hit our SL folks. However If the price goes up over the red bar then its a trend reversal.Trade closed: stop reached
SL reached. This stock has reversed for the short-term at least.Here is an update on my chart.
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