CFDs on Crude Oil (WTI)

Short

A Fading Short 1H OIL

By Zoen_Trieste

Updated

USOIL bulls are having a good run so far. It seems the oil market is ready to reduce short risk as players start taking profits. Looking for a scalp lower seems reasonable.

Note

5660 is first resistance

Note

USOIL 1H Follow Up

snapshot

Price found support around the previous daily candle's HLC3 value. If bulls fail to follow through by EOW, the odds of this being a climactic end of a bullish move increases.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.