Buy or Sell decision on Oil is about to come

As expected price broken down the wedge which is a reaction of 618 retracement of the downside movement. This will potentially create an impulse move to the downside when price retrace a little bit up and unable to break the resistance. However, it's also in its crucial area as it rejected in SMA(20). Buy Oil when price breaks up the resistance / the last swing high

Kommentera:

Move exactly to what we expect. Now wait for it to hit the supply zone in red to enter short position

Kommentera:

Unfortunately we missed 4pips and this trade is cancelled.
Let's find another one