TradeApe
Long

Oil (WTI) Short Term Outlook

FX:USOIL   CFDs on Crude Oil (WTI)
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Hi...welcome to "Choppy Land" where price reverts course around once an hour. :)

If someone has a spare plane ticket to leave this horrible place, let me know. My overall short term long bias from last night worked, but wow what a choppy ride. My medium to long term bias is STILL short so I kinda expect price to take another stab lower eventually.

52 to 54's a major supply zone , so no matter whether we'll head north or south eventually, expecting a choppy ride...which is kinda what we've seen this afternoon.

Having said that, my line in the sand is now 51.5. Above it long, below it short. 53's a pretty decent reversal level though, so I wouldn't be surprised if we break through the LITS sometimes tomorrow. For price is above my LITS, so I'm still more in favor of longs...even if they might be shortlived.
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