Norkan
Short

Oil breakout unlikely, shorting opportunity down to support

TVC:USOIL   CFDs on WTI Crude Oil
There is a long standing support line at 50.4 that hasn't been touched, a breakout of trend is unlikely without a touch. I am therefore of the opinion that this is a whipsaw coming to an end and that one should atleast consider a lower low.

Comment: Breakout failed, still uncertain if a lower low is ahead. The pattern these last days is a a climb all day and then whipsaw action, so another breakout attempt may come today, which in my opinion makes a good selling opportunity.
Comment: safe to say, if price moves above yesterdays high 53.74 then my thesis has been invalidated and my stop loss triggered. This breakout attempt might be a whipsaw and it might not. And as i believe so i find this to be a good place to short. Lets see what happens, and keep an open mind.
Trade closed: stop reached: SL triggered
following up for updates :) thanks
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