Get started
PontusTrader

Crude oil short rising wedge terminating into strong resistance

Short
West Texas Oil (OANDA:WTICOUSD)  
PontusTrader Updated   
OANDA:WTICOUSD   West Texas Oil
Wedge Supply and Demand CL Oil crude WTI
9
6
wedgepattern supplyanddemand cl oil crude wti
Self explanatory. Easy short setup here, insane reward to risk.
Comment:
Crude sell off lining up with index sell off... this could get hairy. No position on it since I am focused on equities.

snapshot
Comment:
Not looking good for crude - I'd be sweating hard if I was long.

snapshot
Comment:
Updated with today's price action. Quite crazy, but price is performing a pullback to the wedge support line break. I will lbe surprised if it continues going up.

snapshot
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.