Oil breakout unlikely, shorting opportunity down to support

9 ott 2019

There is a long standing support line at 50.4 that hasn't been touched, a breakout of trend is unlikely without a touch. I am therefore of the opinion that this is a whipsaw coming to an end and that one should atleast consider a lower low.

10 ott 2019

Nota

Breakout failed, still uncertain if a lower low is ahead. The pattern these last days is a a climb all day and then whipsaw action, so another breakout attempt may come today, which in my opinion makes a good selling opportunity.

10 ott 2019

Nota

safe to say, if price moves above yesterdays high 53.74 then my thesis has been invalidated and my stop loss triggered. This breakout attempt might be a whipsaw and it might not. And as i believe so i find this to be a good place to short. Lets see what happens, and keep an open mind.

11 ott 2019

Trade chiuso: stop raggiunto

SL triggered