anyoption
Short

Crude Oil – Continue Downwards?

NYMEX:CL1!   LIGHT CRUDE OIL FUTURES
142 0 6
The daily trend according to the daily time frame is Downtrend technically indicated by following:
• Dow pattern- lower tops and lower bottoms: T1-B1-T2-B2
The downtrend is confirmed by the bearish cross of MA10 below MA20.
Prices are trading below the resistance level at 49.90 the 61.8% Fib (resistance 1) and above the 76.4% Fib level at 46.90 (support 1).
Therefore, we will recommend SHORT POSITIONS for the no position holders on Crude Oil             . Take profit at 45.00 (take profit 1) and at 42.60 (take profit 2). Stop loss should be a bit above the resistance level-R1, thus the stop loss is at 51.00.
For LONG positions, we will recommend to go long in case of a trend-line break (trend reversal).
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out