UK OIL: In a kill zone for a controlled loss
I show a broad kill zone on 1D chart of UK Oil.
Features:
1. Price coming into a zone of congestion.
2. Double pump on Squeeze momentum - which means movement upward of price is more likely to be a minor rebellion.
3. Price below the ATR line.
4. RSI struggling at this time of publication to get above 50.
Short-sellers should not act on this set up unless they can afford serious losses.
Disclaimers: This is not advice or encouragement to trade securities. No predictions and no guarantees supplied. If you make decisions based on opinion expressed here and you lose your money, kindly sue yourself.
Features:
1. Price coming into a zone of congestion.
2. Double pump on Squeeze momentum - which means movement upward of price is more likely to be a minor rebellion.
3. Price below the ATR line.
4. RSI struggling at this time of publication to get above 50.
Short-sellers should not act on this set up unless they can afford serious losses.
Disclaimers: This is not advice or encouragement to trade securities. No predictions and no guarantees supplied. If you make decisions based on opinion expressed here and you lose your money, kindly sue yourself.
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