Crude Oil - Head and Shoulders

FX:USOIL   CFDs on Crude Oil (WTI)
Tonight we have USOIL             on a 4h chart with a head and shoulders pattern. We are currently trading below the 200 EMA on the Daily chart , if we close above this I would consider the trade invalid.

I'm looking to short this all the way down from the right shoulder, waiting for confirmation! This is additional analysis supporting my long term prediction which was posted last week, you can view this idea below.
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head and shoulders technical don't usually play out most of the time.
+1 Reply
We never traded this pattern but it was a possibility, I hope you have a great week.
Great share!
Good analysis,agree!
+1 Reply
Thank you, we will see how this plays out today.
Yes, I am position long based on a long term chart but shorting this right shoulder based on a 4hr chart... so agree with you
+1 Reply
LewisGlasgow dionvuletich
Thank you, I'm still bearish long term but price is starting to indicate otherwise
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