Oil likes channels. I belive it will at least go down to visit support around 49,40 and bottom line of the channel. If broken it will slide to 48,40-48,50.
I will not short it now. If it goes to the top of the channel and it is rejected from 50.40-50,50 I will enter short.
I will not short it now. If it goes to the top of the channel and it is rejected from 50.40-50,50 I will enter short.
Comment:
wnet long after channel broken and retestested. TP 51,70/51,90, then short if retested.
Up to the channel border and bounce back. If retrace - short