Beerus
Short

POSSIBLE SHORT for oil

FX_IDC:USDWTI   WTI CRUDE OIL / US DOLLAR
The level you'd want to take a close look at is the 49.50 mark, short if you see a bearish signal.

If Price goes UP and breaks through the +/- 51.00 mark (key resistance), then the +/- 60 level should be next.
If price goes DOWN and breaks through the +/- 45.40 (key support), then it could go down to the 43's.

Reasons for short:

- RSI overbought.
- Latest high was step 5 in Elliott wave
- 0.618 fib level
- Demand for oil             isn't really meeting supply as oil             producers are trying to benefit from a rise in prices.


Whis
5 months ago
Very nice analyse my friend
Reply
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