Oil coiling before stepping up again

Fundamentals can be put aside for the meantime ! Technically, oil will coil sideways as it did before and then move up - eventually to the target level around US$ 42. It moved already above an important RENKO barrier, which is a good bullish sign. Indicators signaling a turning to the up-side as well. In my opinion, it is o.k. to take a short position for scalping purposes intraday, but to take a short position for a longer holding might contain a high risk. It is better to wait for the right turning point in oil before betting on a significant down trend in oil - the power is with the bulls at the moment.