TradingShot

WTI OIL Channel Up rejection shows strong pull-back next

Short
NYMEX:CLQ2021   CRUDE OIL FUTURES (AUG 2021)
Pattern: Channel Up on 1D.

Signal: Sell as the price got rejected on the Higher Highs trend-line of the Channel Up. This will be confirmed once the 1D MACD makes a Bearish Cross.

Target: The 4H MA200 initially (red trend-line) and the 1D MA50 (blue trend-line) in extension where yuo can shift to a buy.





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