CRUDE OIL (WTI) PENDING FOR A SELL
CRUDE OIL WTI SHORT
There been a major consolidation between the 2 lines drawn there at 49.66 & 44.33, It's printed a bearish engulfing 2 weeks ago but still managed to consolidate at the other S/R, so what in order to short it, the candle MUST close below the 44.33 mark. TP would be at the next S/R which is 39.85.
IF it prints a BULLISH ENGULFING, then we may consider a buy up to 49.66... OR better yet, be patient and see how it plays out near that level.
For now, we are eyeing for a short once the break happens.
There been a major consolidation between the 2 lines drawn there at 49.66 & 44.33, It's printed a bearish engulfing 2 weeks ago but still managed to consolidate at the other S/R, so what in order to short it, the candle MUST close below the 44.33 mark. TP would be at the next S/R which is 39.85.
IF it prints a BULLISH ENGULFING, then we may consider a buy up to 49.66... OR better yet, be patient and see how it plays out near that level.
For now, we are eyeing for a short once the break happens.
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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.