USOil Top Reversal
Structure: Uptrend switch to Short Term Downtrend
Moving Average: 200 SMA Holds, but 15 EMA/50 SMA Death Cross
Trendline: Long Term Uptrend Line Holds
Pattern: Double Top Reversal, Neckline Broken
Trigger: Huge Reversal Candle in Daily Timeframe
Support: 58, 55
Resistance: 62.27, 64.47
Wait for Rebound to 62.30, a retest to neckline resistance, possible a lower High, Short if 4H Reversal Candle formed
SL: 65.65
1st Target: 58
2nd Target: 55
Moving Average: 200 SMA Holds, but 15 EMA/50 SMA Death Cross
Trendline: Long Term Uptrend Line Holds
Pattern: Double Top Reversal, Neckline Broken
Trigger: Huge Reversal Candle in Daily Timeframe
Support: 58, 55
Resistance: 62.27, 64.47
Wait for Rebound to 62.30, a retest to neckline resistance, possible a lower High, Short if 4H Reversal Candle formed
SL: 65.65
1st Target: 58
2nd Target: 55
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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.