tommyjones91
Short

US OIL POSSIBLE REVERSAL AT MAJOR RESISTANCE

FX:USOIL   Crude Oil (WTI)
176 1 2
PRICE ACTION IS ONCE AGAIN HEADING TOWARDS THE $54 MAJOR AREA OF RESISTANCE THIS YEAR. ALL ATTEMPTS SO FAR BY THE BULLS THE BREAK IT HAVE FAILED.

WILL BE WATCHING THE 4H CHART FOR A POSSIBLE REVERSAL AT THE RESISTANCE FOR A GREAT SHORTING OPPORTUNITY WITH A TIGHT STOP JUST THE OTHER SIDE.

ON THE CONTRARY IF THE RESISTANCE IS BROKEN DECISIVELY IT OPENS THE DOOR THE $58 AREA. IF IT IS BROKEN I WOULD LOOK FOR A RETEST TO CONFIRM THE RESISTANCE HAS NOW TURNED SUPPORT AND ONCE AGAIN ENTER ON THE 4H CHART WITH A TIGHT STOP JUST THE OTHER SIDE.
by following the trend for the last few days... it surely go above the resistance level and come down to give false signal to the shorters to cover their shorts... so even if it go above key resistance level dont expect it go to major 58 or 61 levels.. it will go up only.... till this month expiry to surpress shorters..
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