Crude (WTI) (CL_F) has shown a very ominous sell signal via the DeMark 9 setup and DeMark 13 countdown. The pattern now has 13-15 bars to develop the sell conditions otherwise the setup is negated. Look for bearish price action or sell the close below the 13 bar low (c.$62.00) to target c.$47.00 which is the TD setup low of the no1 bar of the setup 9 count. DeMark recommends for an aggressive sell to sell the break of the low of the first No1 bar in the opposite direction after the 13 print. This would be short below $61.80 and would be my recommendation.
Comment
⋅
TD Countdown 13 print still valid (for 11-15 bars then invalidated). Still looking for this to move down and mark the top of the business cycle later this year
Comment
⋅
Stopped out here, but looking for another entry short.
Comment
⋅
Re-Enter this trade now based on the Monthly chart 9 Sell Setup Print. Combined with the Weekly 13 indicates a reversal is due