Phenlx

Crude Oil Outlook

FX:UKOIL   Crude Oil (Brent)
286 3 16
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watsonzou26
7 months ago
The question is if we should put some short orders at these resistance levels. I just did. short US Oil at 46.30.
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Phenlx watsonzou26
7 months ago
Dear Watson,

I have made the experience that shorting as long as we are in a bullish trend may cost some money. As you can see on the big chart posted the D1 bullish trend is still valid and not broken.
If you Zoom further into the chart on H1 (I am posting below this comment) you also see a bullish unbroken trend. In the screenshot I have highlighted you with a purple line Higher Lows which are showing a valid bullish trend. Here the risk: If the prices go higher within the H1 uptrend and cross former high @ 48.24 (blue ray) a new long signal will be created which could generate even stronger bullish momentum. Depending on your position size and SL Level, you may be stopped out before a bearish trend starts.

snapshot
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USOIL: TIGHT BULL CHANNEL. WHERE
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