WTI Oil opened with a huge gap up due to the Israeli - Palestinian conflict. As you know, the is always up to 80% chance that the gap will be filled. For us, it can be a nice shorting opportunity.
To trade that with a confirmation, focus on 84.5 - 85.0 area. That is a minor intraday support that is based on gap close level and recent historical price action.
My bearish confirmation will be a 4H candle close below that - its breakout. I will anticipate a bearish movement to 83.1 - gap opening level.
As always, pay close attention to events. A new higher higher higher close will indicate the escalation of the conflict.
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