My overall bias for oil is bearish but I am taking a long from this region up to 54.28.
This is a fake double top to draw retail into the market IMO....We will see a return up the highs where a liquidation spike will take place to swipe out the people shorting the double top. Once my short region is spiked I believe we will see $51.40.
As I have said overall bias is short. We could drop from this region but a long opportunity is presenting itself to me.