CL2! Jun18 WTI Short Update
Previous support at $64 was broken and the next 2 days were spent testing that level which was now providing resistance and this has held.
This suggests further downside bounded my the downtrend line (resistance) and a major uptrend line at low $60's.
I expect this to be tested within the next day or so. I expect it to be penetrated to the downside into my green , then to recover.
Failure to recover, opens up the next at $60
But one step at a time.
Add to short on retest of current resistance at $63.80 Close everything on break close above recent swing high $64.15 (including slippage). This will get me out with a small profit on my original position.
Ride the short to the uptrend line circa $62.40 and WAIT. Continue breathing.
On break close below trend add to short and ride into the .
Plan B :
If trend holds and bar moves higher, look for an exit, (pull back, pause etc.) Remember you still have a nice little profit. On to the Silver charts ...
, MACH Histogram forms a higher low, Redline forms a lower high.
That I have drawn connecting High of Feb 26 and Low of Apr 4. I believe that is going to be hit and that is my prime exit point!
Ok Help this helps with my concepts of classic .
Thank you for your consideration and support
... just another 2c worth ...