Oil Sell Setup as per Monthly Chart.

FX:USOIL   CFDs on Crude Oil (WTI)
319 11 21
Details on chart.
Comment: Stop now at BE.
Comment: Break of 40 will drive oil towards 38 and 37.
Comment: Sell jumps of oil.. it is still under 42.5 and under 55 sma on 4hr chart... Daily closing required above 42.5 to calm sellers.. till then it is on sell
Comment: Oil can fall below 40 again today... possibilty on cards!!!
Comment: Key figure for today is 39.9... above jumps are expected and if that gone that oil in coming week towards 37
Comment: For today, as far as oil is above 41.4 it is bullish.. below it will turn bearish with downside consolidation.
Comment: Sell oil once it takes out 41.4 for targets towsrds 41 and 40
Comment: Oil taken out 41.4... Now move towards 41 and 40.6 likely
Comment: We are approaching close to Seasonal Bearish months.. i am short and will remain short for coming months.. lets see how far this relief rally goes upside..
Comment: Oil data today and market already crazy.. oil can jump from market prices 42.25.. stop of buy will be 41.9 and stop of sell now at 43.5. Market bit crazy now a days in currencies too.. lets market take some decision and till then i am at sideways

Related Ideas

Hi! I want to discuss about USOIL and your vision of situation now. How do you see it?
newbie2016 alexeyhoroshunvk
Vision lol i dont have visions in trading but views yeah.. oil is on relief rally.. and now consolidation process will start as it is now close to resistances.. 46 and 47.. market is in range same as currencies and gold and i think it will remain till US election..
+1 Reply
Disagree, I'm wait for move to 60. Just my vision.
newbie2016 alexeyhoroshunvk
There is difference between reality and vision lol.. all high time frame charts still pointing downside.. but maybe your vision is correct.. and maybe oil fall towards 20s again.. who knows!!!!! Cheers
+1 Reply
its still look like falling wedge, so price most probably will rebound from 61.8 level.
I so hope so...
hey I think oil might ge support from 37.66, while copper more down.
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