FXBen
Short

POSSIBLE OIL (WTI) PLAY

FX:USOIL   Crude Oil (WTI)
THIS IS SIMPLY AN IDEA AT THE MOMENT AND A LOT IS NEEDED TO TRIGGER ANY TRADES HERE. WE HAVE HAD A PERIOD OF CONSOLIDATION AROUND $62 RESISTANCE WHICH SHOWS THAT THE BULLS MAY HAVE RUN OUT OF STEAM AND POTENTIALLY COULD TRIGGER A TURN IN THE MARKET.

AS YOU CAN SEE ON THE CHART WE HAVE SUPPORT AT $54 AND I WOULD NEED TO SEE THIS BROKEN BEFORE ENTERING SHORT. IF THIS DOES HAPPEN I WILL THEN BE TARGETING BACK AT THE LOWS OF $44.

AGAIN, ONE FOR THE WATCHLIST
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