TVC:USOIL Price has just broken through the 71 resistance region. (We will confirm this once the daily candle closes significantly above the area.) A significant close above that would indicate bulls' strength and thus it would not be advisable to take the sell trade. Our ideal scenario would be for price to hit our entry point,72.61, and then reverse and form a bearish pin bar with body around the 71 area.
Our sell limit is at 72.61 Stop loss at 76 and Take profit at 67.6
We will be watching carefully how today's bar closes.