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UnknownUnicorn772665
Apr 17, 2019 2:35 PM

US Oil Short Trade *WEEKLY RESISTANCE, SUPPLY FLOW INCREASE* Short

TVC:USOIL240
WTI CRUDE OILTVC

Description

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Here is my technical and fundamental analysis for entering short positions on US Oil.

Technicals:

- Weekly rejecting broken channel trendline
- Weekly rejecting $64.50 prior support/resistance zone
- Weekly Fib 0.618

- 4hr showing lower highs and lows now.

Entry will be a weekly close below the Fib 0.618 level and resistance zone. Or I will enter short on the next lower high on the 4hr timeframe and anticipate the break of the 4hr 50EMA.

A full breakdown of this trade can be found on my blog via the link below:

diaryofafinancekid.wordpress.com/2019/04/17/us-oil-trade-update/

Trade active

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Trend AnalysisTechnical IndicatorsChart PatternsCrude Oil WTIusoilshortUSDFibonacci RetracementTechnical Analysis
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