It is on the support line of the uptrend and we have two lines to be sure on the risk. Risk reward is pretty good for this short trade
Uptrend on the 1H and 4H chart, trendline seems strong it might touch resistance again before going down , tomorrow China news , trade with care!
It formed an U on the bearish side and is near its first previous support and resistance line, a break on that confirms a short for me with TP on the strong SR .
US OIL short - this TA goes together with news on the following week , so trade with care
Simple technical analysis, with break of trendline and with news during the next week this short will highly likely happen
It has created a small downtrend on the 60, so I am looking to sell on resistance since its downtrend and it is in that exact point and after bouncing on the first or second target i will look for a buy on the 2 other LONG targets.
Touching the strong support its basically on the bottom and without big news reports it can't go much down so the RISK REWARD ratio is pretty good.