WTI | Watching for a reason to short
WTI's decline from late April might not be over. Last week we saw an impressive rally in oil, but price is right up in the teeth of an important zone - the $58.00 level.
I'm not one for a blind short here - I'd like to jump in with buyers or sellers that have already shown their hand. So I have to wait a little.
What I would like to see is quite simple - a big bearish candle rejecting $58.00 off the 4-, 8-, 12- hour or daily charts.
Target: $51
I'm not one for a blind short here - I'd like to jump in with buyers or sellers that have already shown their hand. So I have to wait a little.
What I would like to see is quite simple - a big bearish candle rejecting $58.00 off the 4-, 8-, 12- hour or daily charts.
Target: $51
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