Oil - Extends Losses and Trend Reversal

Idea for Crude:
- Oil at 40 year resistance.
- Developed a Distributive UTAD pattern, which I shorted early.
- The nature of this move suggests a reversal of the bullish trend.

GLHF
- DPT

تعليق:

Look how price respects the Gann channels.

We had a 20% drop from the top, but price remains in upper quadrant of descending channel:

Must watch the switchback barrier which is gathering energy on the resistance (potentially bullish reversal) here, but it could just be a supply zone.