I HAVE PERSONALLY BEEN VERY BEARISH ON OIL FOR A LONG TIME NOW I TOOK A SMALL LONG AROUND B WHEN WE HAD 4 PLUS 4HOUR REJECTIONS BUT NOW LOOKING SHORT AGAIN HERE IS WHY: -ABCD IN PLAY HERE REJECTED FROM THE 0.618 MAJIC RETRACEMENT AREA 3 TIMES ON THE 4H -BREAK IN STRUCTURE TRENDLINE AS YOU CAN SEE -ITS A BEAR TREND ALREADY MAKING LH LL LH LL -I DONT USE THEM VERY OFTEN BUT THE EMA AND MA CROSSING OVER COULD BE YOUR ENTRY -BIG WICKS AROUND ARE OF REJECTION SAYS SHORT -WAIT FOR THE CLOSE BELOW THE 0.5 RETRACEMENT AND THE DIAGONAL TRENDLINE YOU CAN SEE AROUND PRICE ACTION NOW