Master (Pure) Charting Analysis: no indicators, no fancy drawings; only Pure Logic and 10 years of Experience.
* After a tremendous rise to $63 Oil seems to be losing steam. * Standing on the top of the gap, the price can easily go down from here and close it out.
Trade Signal
Sell at $59.00 Target: $55.00 Stop-loss: $60.00.
Risk/Reward: 4:1
GOOD LUCK!
Yours, Market Wizzard
Disclaimer The decision to enter a trade is solely at your discretion and responsibility. I express my subjective opinion and provide information for educational purposes only.
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The trade is in line with the forecast. Short is held.