An inside, hanging man, candlestick formed last week.That is the same candle that formed in 2 february week which gave us the big drop of 700 hundrend tick move.
The only difference is, that in the february candle, the last daily candle was red while last's week was green.Technicals,fundamentals and seasonals, show lower prices
ahead for oil.A break of the previous week's low will accelarate price towards the 55$ area,which is also a 700 hundrend tick move form todays price.Let's if today the market give us a red candle to enter short.Any upward move,breaking the daily triangle,I will consider it a bull trap.I will look for longs only if the the previous swing high of 64.30 is broken with a daily close.Trade with patience and discipline.Good luck.
The only difference is, that in the february candle, the last daily candle was red while last's week was green.Technicals,fundamentals and seasonals, show lower prices
ahead for oil.A break of the previous week's low will accelarate price towards the 55$ area,which is also a 700 hundrend tick move form todays price.Let's if today the market give us a red candle to enter short.Any upward move,breaking the daily triangle,I will consider it a bull trap.I will look for longs only if the the previous swing high of 64.30 is broken with a daily close.Trade with patience and discipline.Good luck.