OIL sell vs 53.00

With the break of the Trendline, Short Oil vs 53.00.

Two previous bottoms have come into alignment just below the 53.00 level, and on the 4H chart we finally see the creation of lower lows and now a retrace.

Short Oil with the break of this trend line vs the 53.00 level.

Comentarios:

We got the trigger with the TL break. We can short now with a Stop Loss at 53.00 I believe this Pair has reached a top.

Comentarios:

Oil hasn't begun its descent yet, but my view is the same. 53.00 is a very serious level, and as long as it holds, I will hold my view.

Oil is still refusing to break 53 up.

Let's hold for now and wait to see what develops

Comentarios:

Price is now below 51.40. We had a massive spike/false break on the daily chart, and this looks like the beginning of our down move.

Our contracts our now showing profit, and now is no time to close. I believe Oil should now enter a decline.

Comentarios:

Price is now 50.50. Contract is showing profits. I have another idea showing my projections for this bearish trend. I believe we should touch 49.40 at the very least.

I will remain bearish until then.
-dave