US OIL breaks major trend line support at $48.60, targets $46.70

FX:USOIL   CFDs on Crude Oil (WTI)
331 6 5
Major support - $48.56 ( trend line joining $46.72 and $47.73)

US Oil             has broken 21 day MA at 48.99 and also major trend line support at the time of writing. The commodity has declined till $48.19 today morning and slightly recovered from that level. It is currently trading around $48.48.

Short term trend is weak as long as resistance $49.70 (daily Tenkan-Sen) holds. Any break above $49.70 will take the US oil             till $50.18/$50.90/$51.60.The minor resistance is around $49.

The break below 21 day MA confirms minor weakness, a decline till $47.70/$46.70 is possible.

It is good to sell on rallies around $48.65-$48.70 with SL around $49.70 for the TP of $47.70/$46.75.
Hi can we sell now?
hi can you please comment in here when your trade is activated.

Thank you
FxWirePro Amin.Wafa
Trade has not yet activated .Only on rallies u go short
Amin.Wafa FxWirePro
you mean on pull back right.

sorry i am new in trading i don't know much.

thank you
FxWirePro FxWirePro
Yes Sir on pullback only
Amin.Wafa FxWirePro
thanks a lot
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