Traderholic
Short

READ CAREFULLY

FX:USOIL   Crude Oil (WTI)
689 3 17
I KNOW it sounds crazy that the oil             should go further down.
But:
- So did the most think when Oil             prices went from 120 to 90, 90 to 50 and so on.
- The support and trendline couldn't make it
- Oil             constantly makes lower highs
- The highs since the top is quite similar to the ones from the bull up to July 6th.

Can't help thinking that this is a reverse movement.

I usually don't use fundamental for my trading (like it or not - PM if you wanna discuss) - but several fracking companies in US have a breakeven at 30 dollars so it's not unrealistic at all.

Trade carefully :-)
huntingsniper
4 months ago
I like your analysis. Price sits right below the 200 EMA and right at a major support line. MACD negatively diverged since the bull run from Mar to June. Wave 5 just finished on June 9. However short term price pattern forms a falling wedge indicating a short term rebound may be on its way.
snapshot
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huntingsniper
4 months ago
a close-up of the falling wedge
snapshot
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Annette
4 months ago
It sounds crazy? Not for me ;) but could you write me wich fracking companies in US have a breakeven at 30$ please?

SHORT than LONG
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