Oil has broke 2 key support levels today and shows no sign of slowing down, we are on a slight pullback at the moment and price has already touched our resistance level ( purple line ) we can see a retest of this level again before price makes further bearish movement and hits our next key level that has been used as previous strong resistance.
You can enter this trade now and place your SL just above our resistance level or you can wait for a retest... it all depends what type of trader you are as we might not get a re test and might just sink again.
Once price reaches our target zone we will re evaluate the markets to see if we will be adding short positions or exiting the markets.
You can enter this trade now and place your SL just above our resistance level or you can wait for a retest... it all depends what type of trader you are as we might not get a re test and might just sink again.
Once price reaches our target zone we will re evaluate the markets to see if we will be adding short positions or exiting the markets.