Short preparation in case of a bearish scenario on USOIL
Take this as a preparation in case of a scenario like this. IF this happens, we will be ready to trade in the following way.
Main items we can see on the chart:
a) The price is against a significant resistance zone (check the weekly chart)
b) On the mentioned resistance zone, we had a compression that now is broken
c) Based on the past behavior of the bearish trend, we can see clear corrective structures that worked really good on providing entry levels for short selling
d) We will be waiting for structures with similar proportions as the ones you can see on circles
e) IF that happens, we will trade towards the next support zone at 20.00
Main items we can see on the chart:
a) The price is against a significant resistance zone (check the weekly chart)
b) On the mentioned resistance zone, we had a compression that now is broken
c) Based on the past behavior of the bearish trend, we can see clear corrective structures that worked really good on providing entry levels for short selling
d) We will be waiting for structures with similar proportions as the ones you can see on circles
e) IF that happens, we will trade towards the next support zone at 20.00
