USOIL Potential “Short” reached the resistance level
Usoil short, the market has reach a resistance area at fib 0.5. From the previous candles body, it shows that the market has lose it’s bullish momentum. The size of the candles body are getting smaller and smaller showing weakness towards the upwards movement.
The RSI indicator shows that it has reached a point of overbought indicating a bearish signal. Entry will depend on today’s candle close, if today’s candle manages to close above resistance. We will have to wait for the next day candle to confirm entry.
All investment comes with risk. Trade at your own risk. Open to ideas and sharing from all passionate traders, please comment and share your ideas and views. Thank you!
The RSI indicator shows that it has reached a point of overbought indicating a bearish signal. Entry will depend on today’s candle close, if today’s candle manages to close above resistance. We will have to wait for the next day candle to confirm entry.
All investment comes with risk. Trade at your own risk. Open to ideas and sharing from all passionate traders, please comment and share your ideas and views. Thank you!
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