What a rally! Are we going to have a pullback? Here is my analysis
Technicals
→ We are overextended.
→ We are at a major resistance
→ Last Friday we couldn't close a resistance and closed bearish engulfing.
→
Trade
→ All scenarios are possible. Scenario 1 is most likely.
Technicals
→ We are overextended.
→ We are at a major resistance
→ Last Friday we couldn't close a resistance and closed bearish engulfing.
→
Trade
→ All scenarios are possible. Scenario 1 is most likely.
Note
Sweet OIL went down! Look for scenario 2 for a play! Previous support becomes resistance nowNote
Long play already here. You could also wait how the daily close and make a trade tomorrow going back upNote
Long play worked perfectly here. Congrats to whoever took itNote
Told you that support becomes resistance and we just did that. Looking for new trades upcoming week? Look for scenario 1 or scenario 2 for a sell. 
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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.