XiaoLi
Short

Strong Sell: WTI Daily level looking at 47.74

FX:USOIL   Crude Oil (WTI)
295 4 6
3 months ago
WTI breaks the previous wedge on 10/17 morning;

Daily the level, it is a pretty good chance to short when pullback a little near the lower bound of the wedge again (around 49.9). Two target, consider to play bear conservatively, have been set for this trade: 49.06 and 47.74. On the top of that, it is very likely to see the "retrace 0.618 point" later this week or earlier next week. Then it might a good chance to long from there. (I will update that part next week)

At the moment, SL could be safe to set at the higher bound of the wedge .

Best luck and enjoy the trading;

3 months ago
Comment: break out at 50.7, SL triggered
GeneTyne
3 months ago
draw lower wedge support through EIA wick and you'll get an intact wedge
Reply
XiaoLi GeneTyne
3 months ago
that sounds reasonable my friend; however it could also explain as a libra pattern while 50.55 can be seen as a should in the pattern; as now I can see, it is not likely to go higher than that in the next couple days.
Reply
GeneTyne XiaoLi
3 months ago
stats this week will sort it out. but probably more consolidation around here
Reply
XiaoLi GeneTyne
3 months ago
shoulder*
Reply
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