gauging price action there may be a trade hereAfter reaching the median price can continue or reverse. I will monitor carefully to see if i can enter with favorable position and R2R
Crudeoilwti
follow up on earlier posted short tradewe are following a downsloping median set with a median parallel to earlier mentioned mult pivot line (which got zoomed friday and is due for a retest). Because we are following the downsloper nicely i would move stop to BE and adjust target for downsloping angle of target line
Crude Oil waiting for rebound to $50 for a Shark ShortHave been monitoring crude oil.
I see a shark pattern completing at $50.
Will monitor RSI for overbought condition before executing short at $50.
Let's monitor this together.
/CL - Comex Market Analysis and Trading Tips - 28th June 2016Overview:
The Crude oil market had a fairly negative day on Monday, as market continue to worry about all things European Union and United Kingdom related. The primary trend of Crude oil is bearish on charts. On its 4 hourly chart, market is trading below 100 days moving average. It is having important resistance at the level of $48.12 and support level at the level of $46.50. On its 4 hourly charts, MACD is sustaining in its negative territory and RSI is sustaining in its selling zone indicating the upcoming bearish trend in the oil prices. On an intraday basis one can go for sell on higher level strategy.
www.tradingsignalreviews.com
