OIL Short term sell plan
Updated
Hi everyone
West Texas Oil is looking good for a short term sell setup.
When we zoom out to look at the overall price and structure, we see a massive bull move to the upside after recovering from the oil dropped since mid February.
What I expect price to do is to form a larger correction before another bull run continues.
Currently we see the price forming this large structure, hitting a recent double tops.
Whats important is price correctively move up to the top of this structure, indicating a short term bearish move can happen before the continuation of the long term buy.
I will wait for a clear dropped from lower time frame and a continuation correction to add into the sell.
if you like my analysis, please like, follow, and comment. I welcome all kinds of feedback, suggestions and opinions, thank you.
West Texas Oil is looking good for a short term sell setup.
When we zoom out to look at the overall price and structure, we see a massive bull move to the upside after recovering from the oil dropped since mid February.
What I expect price to do is to form a larger correction before another bull run continues.
Currently we see the price forming this large structure, hitting a recent double tops.
Whats important is price correctively move up to the top of this structure, indicating a short term bearish move can happen before the continuation of the long term buy.
I will wait for a clear dropped from lower time frame and a continuation correction to add into the sell.
if you like my analysis, please like, follow, and comment. I welcome all kinds of feedback, suggestions and opinions, thank you.
Note
Note
Price broke out of the channel now, wait for confirmation of a continuation correction and look for short down.
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