Oil: Bearish Resumption Trade!
*Update: First half was closed at first target, moved stop to breakeven, second half was closed at breakeven...
NYMEX Crude Oil is retesting a key near term area:
-Main falling trend line for bearish trend
-127.1 Fibonacci extension for the latest bearish wave
-the 50-days Simple moving average
-Horizontal resistance which rejected price previously.
-Potential pin bar at this resistance area.
We will probably see a price attempt to resume the overall bearish trend. Nothing is certain so keep stops tight :)
Be one of the first members of my new trading portal, check my new website thefxchannel.com/ , vote and subscribe. Thank you
Good luck, keep your stops tight..
My best regards
Technician
NYMEX Crude Oil is retesting a key near term area:
-Main falling trend line for bearish trend
-127.1 Fibonacci extension for the latest bearish wave
-the 50-days Simple moving average
-Horizontal resistance which rejected price previously.
-Potential pin bar at this resistance area.
We will probably see a price attempt to resume the overall bearish trend. Nothing is certain so keep stops tight :)
Be one of the first members of my new trading portal, check my new website thefxchannel.com/ , vote and subscribe. Thank you
Good luck, keep your stops tight..
My best regards
Technician
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.