Jahir_Jack

Crude oil 4h time frame formed an H&S. looking for bearish dip.

TVC:USOIL   CFDs on WTI Crude Oil
Crude oil 4h time frame. formed an H&S . price consolidating at right shoulder forming a bull flag pattern, wait for breakout to downside and put stop above right shoulder targeting 53.92, 51.85.

Reason:
1. confluence is that price reached at 50% and 61% fib level from head to right shoulder impulsive extension.
2. confluencce 4h time frame RSI is at extrem overbouhgt zone and 2h time frame RSI making bearish divergence.