"Crude Oil Sell Off Is Coming" by trader Fxprotrader — published May 22, 2016 — TradingView

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Crude Oil (WTI) (FX:USOIL)

FX:USOIL Crude Oil (WTI)

Crude Oil Oil Wedge wavetheory

crudeoil oil wedgepattern wavetheory

Price in Crude Oil is moving into a wedge pattern. Looking in MACD we may see a bearish divergence so we should be prepared for a potential reversal. A breakout below the lower bond of the pattern will signal the sell off but first a sell setup should be complete before going short.

Related Ideas

about USOIL 6

maybe reverse today, double top?

Reply

Rayge

The safest way is to wait for price to break below the trendline and watch for a correction before going short..

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Nice chart

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Ichimoku_Trader

Thank you mate..!

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