Something has spooked, shaken, and violently swirled the crude markets.
What exactly is brewing with oil?
The rising and strong trendline that began in Apr 2020, has been tested twice on the weekly time frame earlier.
This week, it's simply taken out. Broken in one clean swipe. It's almost like a butcher's big solid knife has sliced through warm butter....
Buy at 1855-1875 range for an excellent entry.
SL - Exit if stock close below 1850, since it will definetely test the low's of the rejection candle.
Reason for the trade: Rejection + Failed New Low(Previous day)
Exit when: A daily close below the Rejection Day midpoint breaks the pattern, as this would indicate a retest of the Rejection...