OVERALL MY BIAS ON OIL IS SHORT.
WEEKLY HAS CLOSED SPINNING TOP WHICH SHOWS INDECISION.
PRICE HAS BEEN REJECTED FROM THE $50 RESISTANCE.
CAPPED BY THE 50% RETRACEMENT.
CAPPED BY 50EMA.
PRICE COULD BREAK THE 50EMA AND CONTINUE FOR AN OUTER TREND LINE TOUCH.
WAITING FOR 4HOUR COUNTER TREND LINE BREAK AND OTHER CONFLUENCES.
FIRST SHORT TARGET 42.00
SECOND SHORT TARGET 38.00.
IF PRICE BREAKS OUT THE OUTER TREND LINE THEN WERE LOOKING AT 54.00.
JUST WAITING UPON CONFLUENCES TO FIT INTO PLACE.
WEEKLY HAS CLOSED SPINNING TOP WHICH SHOWS INDECISION.
PRICE HAS BEEN REJECTED FROM THE $50 RESISTANCE.
CAPPED BY THE 50% RETRACEMENT.
CAPPED BY 50EMA.
PRICE COULD BREAK THE 50EMA AND CONTINUE FOR AN OUTER TREND LINE TOUCH.
WAITING FOR 4HOUR COUNTER TREND LINE BREAK AND OTHER CONFLUENCES.
FIRST SHORT TARGET 42.00
SECOND SHORT TARGET 38.00.
IF PRICE BREAKS OUT THE OUTER TREND LINE THEN WERE LOOKING AT 54.00.
JUST WAITING UPON CONFLUENCES TO FIT INTO PLACE.
