WTI Oil: Head and Shoulders on 4H. Potential scalp.

WTI rebounded on Monday exactly on the 28 Jan low = 51.158 and 4H support and is now close to the 54.245 Resistance. If it gets rejected it creates the opportunity for a new short towards the support as 4H is forming a Head and Shoulders pattern (overbought on the Right Shoulder with STOCH = 83.318, STOCHRSI = 92.174, Williams = -13.879) and 1D remains neutral (RSI = 54.704, Highs/Lows = 0.0000). On the long term however, the bias remain bullish.




** If you like our free content follow our profile (tradingview.com/u/InvestingScope) to get more daily ideas. **

Comments and likes are greatly appreciated.