Oil rebounds on a crab pattern, what next?
Oil has rebounded off a crab pattern yesterday.
It is clearly on a downtrend, but in any downtrend, there can be small rebounds and opportunities for traders to join the trend.
Donald trump tweeted that oil will be lower in the coming months, but it does not mean there will not be small rebounds along the way.
If oil manage to rebound to 61 - 61.20, we will be interested to short high on a bearish shark pattern.
USOIL Bearish Shark Pattern
PRZ 61 -61.20
SL 64
TP1 57
TP2 53.75
Never risk more than 2% of your capital on any single trade, good luck and good trading!
It is clearly on a downtrend, but in any downtrend, there can be small rebounds and opportunities for traders to join the trend.
Donald trump tweeted that oil will be lower in the coming months, but it does not mean there will not be small rebounds along the way.
If oil manage to rebound to 61 - 61.20, we will be interested to short high on a bearish shark pattern.
USOIL Bearish Shark Pattern
PRZ 61 -61.20
SL 64
TP1 57
TP2 53.75
Never risk more than 2% of your capital on any single trade, good luck and good trading!