On short term (30 minutes graph), we can notice that the movement isn't interrupted as long as prices remain below 48.41$.
Currently, the WTI is testing its previous top at 48.25$. A few elements provide the opportunity to unter short at this price level :
- Probable back of the downside trend because of the presence of a resistance
- divergence under construction
- The 200 periods Moving Average remains , which highlights the fact that oil prices are still declining.
In this configuration, here is the strategy you can put into action :
- Sell short at the current price level : 48.2$
- Stop @ 48.35$
- Target @ 47.90$
Reward/Risk ratio : 2