microtrends

Will oil fall to 98.87 or reverse here 99.50 after congestion?

FX:USOIL   CFDs on Crude Oil (WTI)
Oil
41 0 0
oil
Will oil             fall to 98.87 or reverse here 99.50 after congestion?
we are short from cross below 101...
we are at 125% + of the daily range
We are past a historical level 99.65 area
98.87 is next!

Should we reverse here... not without confirmation a close above -f100% 99.55 - yes perhaps
is there time today?

will we congest here and rally up over night?
Will we continue downwards to the 98.87 region?
at least prepare to scale out...

lets see where this reverses...here 99.60 - -f100%
or continue downwards... 98.50 or 98.87...

i for one am not jumping in the way - if we get to a 175% range we will easily hit 99.0 however 99.50 round number...

i could call a long here and lets see - a bounce at -f100% but really need to watch it close above 99.50 area with conviction... a long here is a pre-empt but at a level... best to wait for price action to lead... or its catching a falling knife - or taking you out a beautiful short from earlier...target 99.00 area..

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