USOIL: WTI Approaching the first downside target and concerned about whipsaw from here...either take profits or set stop as per comment.
Comment:
WTI: USOIL 10 upload limit - no chart for now
A sad little rally attempt for 12 hours got WTI nowhwere, all
it managed to do was carve out a little continuation pattern.
More luck than judgement in hindsight saved a counter-rally
long trade from kicking in yesterday with price not coming
back enough to warrant risk. Lucky more than sensible,
looking at the chart now.
Price action therefore leaves WTI still looking extremely
weak. It's recently fallen below the next short trigger at 45.45
and looks on course to test the next downside target at 43.74.
Whilst below 45.50 and 45.75 at highest (stops for shorts
above here for now) WTI remains negative across all trends.
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A sad little rally attempt for 12 hours got WTI nowhwere, all
it managed to do was carve out a little continuation pattern.
More luck than judgement in hindsight saved a counter-rally
long trade from kicking in yesterday with price not coming
back enough to warrant risk. Lucky more than sensible,
looking at the chart now.
Price action therefore leaves WTI still looking extremely
weak. It's recently fallen below the next short trigger at 45.45
and looks on course to test the next downside target at 43.74.
Whilst below 45.50 and 45.75 at highest (stops for shorts
above here for now) WTI remains negative across all trends.