*Update: First half was closed at first target, moved stop to breakeven, second half was closed at breakeven...
NYMEX Crude Oil is retesting a key near term area:
-Main falling trend line for bearish trend
-127.1 Fibonacci extension for the latest bearish wave
-the 50-days Simple moving average
-Horizontal resistance which rejected price previously.
-Potential pin bar at this resistance area.
We will probably see a price attempt to resume the overall bearish trend. Nothing is certain so keep stops tight :)
Be one of the first members of my new trading portal, check my new website thefxchannel.com/ , vote and subscribe. Thank you
Good luck, keep your stops tight..
My best regards
Technician
NYMEX Crude Oil is retesting a key near term area:
-Main falling trend line for bearish trend
-127.1 Fibonacci extension for the latest bearish wave
-the 50-days Simple moving average
-Horizontal resistance which rejected price previously.
-Potential pin bar at this resistance area.
We will probably see a price attempt to resume the overall bearish trend. Nothing is certain so keep stops tight :)
Be one of the first members of my new trading portal, check my new website thefxchannel.com/ , vote and subscribe. Thank you
Good luck, keep your stops tight..
My best regards
Technician
