Decreased momentum giving room for a short
After a short pullback from a clear historical resistance at 49.00, oil has shown a weaker momentum in the days that followed. This raised the question with me wether or not this is a sign that oil is ready for a little pullback. I personally think it is. The first support level is around 46, but i think the price might push lower to around 44. This was the support level a few days ago and was a resistance level at the end of august. I place a tight stop-loss at around 49,5 since a breakout to the upside could mean a big uptrend to well in the 50's area.
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