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jojofang0901

OIL Watch For Bearish Reversal Price Action from the Top

Short
CFDs on WTI Crude Oil (TVC:USOIL)  
jojofang0901 Updated   
TVC:USOIL   CFDs on WTI Crude Oil
Chart Patterns Parallel Channel Flag priceaction structure pattern impulse correction Wedge
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chartpattern parallelchannel flagpattern priceaction structure pattern impulse correction wedgepattern


Hi traders:

OIL is also looking very clean and could give us some short selling opportunities very soon.

WE can see that price has manage to form another higher time frame parallel channel structure,
continue to correct itself within.

Latest price once again is forming another reversal structure, ascending channel to push up.
Price can certainly continue to correct upwards, so be patient here to wait for the confirmation.

I would wait for the ascending channel to complete correcting first, and the strong bearish lower time frame impulse to breakout,
follow by continuation correction before enter any positions.

Thank you
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