Oil is Bullish but Historical Sellers are Close

1 min read
tarantula fx

tarantula fx

Head of Trading

Dear traders,

Oil is in uptrend but it’s getting close to historical resistance. Daily candlestick/pattern configuration is a signal for a short trade.

At this point we can clearly see the resistance. It’s highlighted in green. If we saw the market moving down that would be considered a pullback. I am aiming for a short trade on a bearish candlestick pattern configuration. Watch for it on a daily TF and look for 71.60 and 70.20 as the targets.

The Analysis has been done with the Black Widow system.

Good trading,
Nenad Kerkez

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