Technician
Short

Short Rude Crude

FX:USOIL   Crude Oil (WTI)
4563 17 85
Looks like a good opportunity to short crude, targeting rising trend line as a first target. A break below the trend line should confirm another test of prior lows.
Note that a stability (closing) above 34.50 may negate this trade idea..

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Hi Technician, It looks like the oil couldn't break above the main downward trend line.
Does it mean that we are going to see more move to the downside?
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Probably yeah.
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Hamit PRO Technician
Thanks Technician!
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Hi there! Is USOIL still bearish? Thanks
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thanks taken:) thanks thanks
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I think trend to 37-38 (till 3-5 feb)
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Thoughts on the Monthly and weekly tech.? I can not deny the fact that a pretty evident low test on support on the monthly, alongside a weekly chart that looks massively overextended with a lot more room to the upside. No trend change evident on the lower timeframes as well makes me want to wait a couple of more days to justify a trade here.
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I see the logic and would normally take the trade. Looks strong enough to break.
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Good job sir! Looks like I was wrong.
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I think it's just pulling back and should eventually break the level. I have a short with a tight target of 2.0 RR. After that I plan on buying for a break of that level.
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