OIL Switching Uptrend to Downtrend
We had a massive downtrend on Friday due to recession fears. Chances are we can see some pullback to the 115 or 116 areas which could be a great shorting opportunity. There are also opportunities of scalping quick longs but do not long at the smoothed moving averages or LR Channel tops (Linear Regression) as they can be rejected from there. My trading strategy for opening would be quick longs and then reshorting at higher levels region as there still are recession fears. The higher levels would be at 5min, 15 min, 1hr, 2hr, 4hr LR Channel tops where I would short.
I do not expect a 119 area to be reached in the next week (maximum 117).
I do not expect a 119 area to be reached in the next week (maximum 117).
Penafian
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