USOil Top Reversal
Structure: Uptrend switch to Short Term Downtrend
Moving Average: 200 SMA Holds, but 15 EMA/50 SMA Death Cross
Trendline: Long Term Uptrend Line Holds
Pattern: Double Top Reversal, Neckline Broken
Trigger: Huge Reversal Candle in Daily Timeframe
Support: 58, 55
Resistance: 62.27, 64.47
Wait for Rebound to 62.30, a retest to neckline resistance, possible a lower High, Short if 4H Reversal Candle formed
SL: 65.65
1st Target: 58
2nd Target: 55
Moving Average: 200 SMA Holds, but 15 EMA/50 SMA Death Cross
Trendline: Long Term Uptrend Line Holds
Pattern: Double Top Reversal, Neckline Broken
Trigger: Huge Reversal Candle in Daily Timeframe
Support: 58, 55
Resistance: 62.27, 64.47
Wait for Rebound to 62.30, a retest to neckline resistance, possible a lower High, Short if 4H Reversal Candle formed
SL: 65.65
1st Target: 58
2nd Target: 55
Penafian
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