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TrevorWoosnam

Bearish oil price action.

Short
CFDs on WTI Crude Oil (TVC:USOIL)  
TrevorWoosnam Updated   
TVC:USOIL   CFDs on WTI Crude Oil
Trend Analysis Chart Patterns Wave Analysis Crude Oil WTI usoilshort USO Oil
3
2
trendanalysis chartpattern waveanalysis usoil usoilshort uso oil
Chart had a bullish HVF breakout but did not reach target. Despite overlap of wave 1 and 4, selloff appears to be Elliot Wave bear trend. New target for price of oil is bottom end at $32
Comment:
Quick retest of funnel level, tapped it then continued up with speed. This is bullish price action after FOMC and although i do not expect it to get above 54, the strength to hold the funnel level and continue up is enough to make the bear case here weak currently.
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