US OIL POSSIBLE REVERSAL AT MAJOR RESISTANCE
PRICE ACTION IS ONCE AGAIN HEADING TOWARDS THE $54 MAJOR AREA OF RESISTANCE THIS YEAR. ALL ATTEMPTS SO FAR BY THE BULLS THE BREAK IT HAVE FAILED.
WILL BE WATCHING THE 4H CHART FOR A POSSIBLE REVERSAL AT THE RESISTANCE FOR A GREAT SHORTING OPPORTUNITY WITH A TIGHT STOP JUST THE OTHER SIDE.
ON THE CONTRARY IF THE RESISTANCE IS BROKEN DECISIVELY IT OPENS THE DOOR THE $58 AREA. IF IT IS BROKEN I WOULD LOOK FOR A RETEST TO CONFIRM THE RESISTANCE HAS NOW TURNED SUPPORT AND ONCE AGAIN ENTER ON THE 4H CHART WITH A TIGHT STOP JUST THE OTHER SIDE.
WILL BE WATCHING THE 4H CHART FOR A POSSIBLE REVERSAL AT THE RESISTANCE FOR A GREAT SHORTING OPPORTUNITY WITH A TIGHT STOP JUST THE OTHER SIDE.
ON THE CONTRARY IF THE RESISTANCE IS BROKEN DECISIVELY IT OPENS THE DOOR THE $58 AREA. IF IT IS BROKEN I WOULD LOOK FOR A RETEST TO CONFIRM THE RESISTANCE HAS NOW TURNED SUPPORT AND ONCE AGAIN ENTER ON THE 4H CHART WITH A TIGHT STOP JUST THE OTHER SIDE.
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