Cruded Oil: Buy Opportunity at Key Resistance Level

In case price retest the sliding parallel of the descending channel we have a nice opportunity selling the market. Although a much better profit target would be the sliding parallels below the one that is about to be tested, i chose to aim the upsloping lower parallel of the smaller channel where there is a probability that price finds support reversing to the upside. Even with thsi setup, we have a 3:1 trade, which is a value one.

Trade active

Comment:

The headline is obviously wrong..! It's a sell opportunity :)