Oil completed an AB=CD harmonic pattern at PRZ (Counter trend! )

FX:USOIL   CFDs on Crude Oil (WTI)
Oil just completed an AB=CD move at a very important PRZ. WE do have bearish divergence on the RSI already and i am expecting a possible reversal at this level. Look for clear bearish evidence since it is a counter trend trade
Comment: Strong rejection and bearish divergence on 1H!

Comment: Idea still valid but no good signal yet, Oil inventory tomorrow!

Comment: Looking good if this daily candle close like this, then we may get much more down on this trade!

Comment: If this last lower high got confirmed then we still looking good here.

Comment: Oil broke new highs as oil rigs count continue to decline.
Ida invalidated.


Looking good. Strong divergence on the Daily too!
+1 Reply
Abozahra DoubleTop
@DoubleTop, Yeah!
DoubleTop Abozahra

I don´t like the 2 pin bars on the 1H but hopefully it´ll run out of steam.
Abozahra DoubleTop
@DoubleTop, Well no need to be first to the party :)
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