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Theperfectionist

Oil formed a Lower High at 66$, Bearish run?

Singkat
Hadapan Minyak Mentah Ringan (NYMEX:CL1!)  
Theperfectionist  
NYMEX:CL1!   Hadapan Minyak Mentah Ringan
Trend Analysis Harmonic Patterns Oil SELL Crude Oil WTI Crude Oil lowerhigh consolidation
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trendanalysis harmonicpatterns oil sell usoil crudeoil lowerhigh consolidation
December 2018 marked the end of the bearish move where oil plunged nearly 40% from its 3 year high 77$. After a long recovery, a deeper downside movement of 10% was noticed, creating a clear Lower High. The move is still a pullback but can easily turn into a bearish run.

Setup :
Trend type - Pullback, Bull trend resumption at 65.30
Action - Sell now.
Take profit @57.80
Stop loss @64.00
Penafian

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