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OIL Hit Previous highs, expect bearish reversal
CFDs on WTI Crude Oil
Short
OIL Hit Previous highs, expect bearish reversal
By jojofang0901
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Updated
Jul 7, 2021
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Jul 6, 2021
Hi traders:
We can see price has finally reach the previous higher time frame highs, and potential double tops in the making.
Price then formed a smaller, lower time frame ascending channel while in the larger, higher time frame parallel structure.
All good bearish confluences price action.
Latest price has shown us a strong push down from the price after reversal from the HTF double tops.
Wait for price to breakout completely, and look for LTF continuation correction to complete before looking for the sell entry.
Thank you
Jul 7, 2021
Comment
Jul 19, 2021
Comment
Chart Patterns
correction
Flag
impulse
Parallel Channel
pattern
priceaction
structure
Wedge
jojofang0901
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