CFDs on Crude Oil (WTI)Updated Oil cont.
Seems that oil is currently moving in broadening wedge - I expect some resistance at 58 and at 59, which would offer shorting opportunities with good RR. I still expect oil to test the bottom of the triangle (yellow rectangle).
Note
Oil made the move towards 59 and was rejected, now there are only two scenarios, either we find some support and test 59 again, or we move towards yellow rectangle.Trade closed: target reached
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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.