Description
⋅ USoil is forming a wonderful pattern combo: Bearish Butterfly and Builish Cypher, conjoint at 52.72.
Moving average is turing flat, together with declining momentum on MACD, both shows negative direction toward oil price.
Good trade to short , with good risk-reward ratio, together with the over supplied production.
Short @ 52.72
SL:54.5
TP1:50
TP2:49.2
TP3:47.2
TP4:44
Trade active
⋅ Pattern runs well, heading to 49.72
Trade active
⋅ TP1 reached, watch out support near 200MA and TP2, downside prevails
Trade active
⋅ Price fail to hold over 50, TP2 reached, heading to Tp3 and TP4