OIL Look for bearish price action to sell

Hello traders:

OIL is also on my watchlist for potential sell opportunity.

We can see price has been moving up pretty impulsively from the bottom, and continue to push up.

What we see from the latest price action is after a bullish impulse up, price did not form further bullish continuations.

Instead, it begin to form a more corrective price action, hinting a potential reversal may come in.

We see the latest price had a false breakout on the HTF double tops area, and quickly had a bearish reversal impulse right back down

I would still wait for bearish continuation correction to form on the lower time frame and completes before getting in on the sell.

Thank you

Kommentera:

Kommentera: