CL1!: Expecting Bear Momentum To Push Yet Again Into Lows #Crude

NYMEX:CL1!   Light Crude Oil Futures
396 0 4

Seeing yet again another minor continuation opportunity to go short.


Seeing genuine bear continuation despite being at 2009 levels. Due to the trend and the technical circumstances I'm seeing, I think price actually really could break the 2009 lows, which is a big thing, however, good for us.

1: Strong evening star in the demand zone
2: 20MA is acting as resistance
3: Fibonacci/Ratio confluence validates, and confirms a level we can continue to trade from.
4: We have hidden bearish divergence, which I think is very strong, and will have technical traders packing shorts (In anticipation of the 2009 low break)

When trading this it is worth watching USDCAD             with this trade, as it will inevitably move hard when Oil             breaks the 2009 lows (I suspect Oil             will grab a lot of momentum when it breaks the 2009 lows because it will provide a rare technical opportunity to short Oil             off of high probability momentum.

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Thank you.

Best of luck
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