55 sma setup.. Oil close to big resistance... Sell!!!!!

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CFDs on WTI Crude Oil (TVC:USOIL)

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TVC:USOIL CFDs on WTI Crude Oil

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55 sma setup.. Oil close to big resistance... Sell!!!!!

Chart depicts everything..

Comment:

Daily with 10 Sma resistance..

snapshot

Comment:

It broke above that 55 sma but downside is not over yet..!!!!!!!! a lot more confirmations required for bearish momentum to fade away.. as all higher time frames still suggesting fall... watch out 20 ema on daily.. I am expecting move towards 47 and low...

snapshot

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