I have 4 scenarios but mostly like the story about long. The world economies are not ready to continue the coronovirus story and everyone is tired of it. Businesses will die, constant stimulation will kill the American dollar.
I will look for entry points after a false breakdown of levels. In my opinion in a situation of partial uncertainty this is the only way...
Now we are in our way of positional target 3048 & 3131 ... yesterday new high 3033... so we can hold for the targets ...
This chart is for intraday basis ...
REASON FOR SELLL CALL:
1) SOLID SUPPLY ZONE REACHED AND REVERSAL FOUND
2) DAILY TF TRENDLINE REVERSAL FOUND
3) REVERSING FROM ASCENDING CHANNEL TOP
TVC:USOIL TVC:USOIL
Oil short pattern has opened,
At the same time the bear momentum gradually amplified,
Investors are advised to focus on the opportunity to short after the pullback.
Sell Limit 60.40
TP1 57.60
TP2 55.50
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---------------------------------------{DRonnie} 2019.05.30 uk
The bear market is further opened up,
In the future to maintain the High-Short trading ideas.
Or Sell Limit 61.50
TP1 59.50
TP2 58.70
SL 62.80
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--------------------------------Ronnie 2019.05.06 in
Oil is showing signs of exhaustion on 30 mins chart at current levels of 50.13.
Trendline break plus negative divergence on RSI makes it a good short term short bet for target of 49.40.
Keep strict stop loss @ 50.55
