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MoolahMaker

USOIL - XTIUSD - Short Opportunity

Short
West Texas Oil (OANDA:WTICOUSD)  
MoolahMaker Updated   
OANDA:WTICOUSD   West Texas Oil
Beyond Technical Analysis Technical Indicators Chart Patterns Crude Oil WTI xtiusd xti usoilshort usoilforecast usoilanalysis usoiltrade usoilprediction usoilsell
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beyondta indicator chartpattern usoil xtiusd xti usoilshort usoilforecast usoilanalysis usoiltrade usoilprediction usoilsell
USOIL is unable to push higher up. It has a weak foundation as support and we can expect it to drop further down below to find a good support before continuing its long term bullish trend, if still strong.

Leave your SL above the last high for enough space to move before the breakdown below.
Comment:
With the fib extension for placing your TP:
snapshot
Comment:
I personally have closed this position as it could go for a high test. Will open it back on the next sell confirmation.
Comment:
This trade ended up in profit while Brent Crude oil tested its daily resistance one last time before breaking down.
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