OIL Watch For Bearish Reversal Price Action from the Top
Updated
Hi traders:
OIL is also looking very clean and could give us some short selling opportunities very soon.
WE can see that price has manage to form another higher time frame parallel channel structure,
continue to correct itself within.
Latest price once again is forming another reversal structure, ascending channel to push up.
Price can certainly continue to correct upwards, so be patient here to wait for the confirmation.
I would wait for the ascending channel to complete correcting first, and the strong bearish lower time frame impulse to breakout,
follow by continuation correction before enter any positions.
Thank you
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