Oil Potential Top Reversal
Structure: Uptrend
Moving Average: Uptrend
Trendline: Downtrend Line Resistance
Pattern: Potential Head & Shoulder at 60.9
Trigger: Small Evening Star
Resistance: 60.80 - 61
Support: 58.70 - 59
Short Term overbought on Oil Price
Daily Candles show lack of momentum
Wait Euro or US Open to short at 60.50
SL: 61.45
1st Target: 58.70
2nd Target: 55
Higher risk because overall trend is upward, half Position Size than normal trade
Moving Average: Uptrend
Trendline: Downtrend Line Resistance
Pattern: Potential Head & Shoulder at 60.9
Trigger: Small Evening Star
Resistance: 60.80 - 61
Support: 58.70 - 59
Short Term overbought on Oil Price
Daily Candles show lack of momentum
Wait Euro or US Open to short at 60.50
SL: 61.45
1st Target: 58.70
2nd Target: 55
Higher risk because overall trend is upward, half Position Size than normal trade
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.
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.