Follow the Yellow Brick Road

FX:USOIL   CFDs on Crude Oil (WTI)
Have been waiting for a confirmation of trend reversal after rally on 21.01.2016. As supply glut continues to grow, there is no reason for a resurgence in oil prices yet.


1. Rising blue wedge was broken,
2. Rejection from .764 line to confirm H&S .
3. Upper Yellow line now serving as resistance for downward wedge .

End of corrective wave C on Daily TF, down one more wave series to retest lows before true reversal.

Comment: Move SL to BE, continue to monitor
Trade closed manually: Broke green line, new low, and out!

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