Crude Oil: Key Level To Watch For Shorts

Crude oil seem to bounce from a weekly downtrend, in a impulsive way with a sharp move to the down. Sooner or late price will start a correction, maybe testing the upper parallel of the downslope median line. In that correction or after it's over we should watch for a sell setup. It's a little early at the moment but i will keep a close eye on crude and i will update if a sell setup is completed.

Weekly downtrend:

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As expected price is now moving in a corrective mode. We might have another small move towards the upper parallel where we should start watching for sell setups. I will update again if a setup is completed based on my strategy