EQDailytrading

Oil is shaping to a bearish wedge pattern.

Short
NYMEX:CL1!   Light Crude Oil Futures
Hi, I can see a wedge in the Oil 4H time frame. The entry level is between 74.20-74.8. You can set your stop loss at 75.1 and your target for this pattern should be at 71, 70.1 and 69. It's better to wait and watch for price consolidation at the entry point before entering the trade.

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