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FOREXIR
May 2, 2022 7:58 AM

USOIL Short

WTI CRUDE OILTVC

Description

As you see in the 4H time frame, we are in a downtrend and price is moving inside a triangle pattern .

Currently, price is rejected from the triangle upper side and failed to break the last major high.

On the other hand, it is moving on the little ascending trend line . But, since we are facing downside pressure and the main trend is bearish , we can expect a downside breakout on the trend line .

Moreover, we can see negative divergence on MACD . Although price has made a higher high inside the triangle, MACD could not.

If price breaks the trend line and closes a bearish candle below this level, I expect a fall on GJ towards the triangle lower side.
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