Short Usoil (Crudeoil wti)So, I posted a chart this morning and oil has moved further up which is within calculations and if this chart also fails, then I will post my new opinion on Monday. For now, happy trading. My sl is at 64.51 for leg B to C
DISCLAIMER
Please note that this chart is an opinion based chart only. Please trade at your own risk
Wtianalysis
head and shoulders pattern on overbought market
hey guys,
from my previous analysis of wti we see that the market has recently touched a very significant potential reversal zone.
taking into account overbought rsi we can look for selling opportunities.
this head and shoulders pattern is a perfect way to catch a pullback with your targets based on structure.
just wait for a bearish violation of a neckline and sell the market.
I will give further updates!
good luck!