thescalpmaster
Short

USOIL - looks like a fake bullish breakout

FX:USOIL   CFDs on Crude Oil (WTI)
241 2 2
Look at the arrows near breakouts and the volume . Today's breakout looks fake. Today, we still haven't crossed the previous week's high. All of these suggest that it is a bad idea to long this one.
Ashrith,

I believe as of yesterday you were thinking that oil would go to $49. Based on this chart you are thinking that oil prices have peaked and will go down from here?
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Other parameters are also wierd for real breake out. I agree with you. Better to watch for clear signals
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