Steven_Maas

USOIL entering 46.74 resistance causing double top

FX:USOIL   Crude Oil (WTI)
104 4 3
If USOIL             continues in it's direction it might continue to climb up into and above 46.9- to 47.-- it might have made a new structure level to rise up all the way into 50.9 - 51,0.

If USOIL             returns bearish and gains momentum after 45.77 price could drop back down to the 141.4 and possibly 127.2.

Would love to hear your thoughts. Thanks in advance for your feedback!
Double top seems met on 2016-12-05, watch closely what it'll do!
- Also, check that consolidation in the DMI. Means a big move is going to happen soon.
- ADX is moving into a 40 range indicating a trendreversal is likely to happen.
- And lastly, currently +DMI (BLUE) is dominating the -DMI (ORANGE).

These three indicators give off SHORT signals. If this pushes through Oil will most likely reach 44.40 in 3 to 4 candles.
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Steven_Maas Steven_Maas
Ups I forgot mentioning RSI (strange): RSI is moving upward into 'overbought' area. Also indicating SHORT.
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Nice chart like your idea!
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Steven_Maas Swing_Trader
Hi KingTrader, thanks that makes me happy!
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