USOIL WTIUSD Crude Technical Analysis & Trade Idea

12 feb 2021

Crude oil has traded into major resistance, it's fairly overextended and we could be looking at a possible trend reversal or at least more consolidation and a decent retrace in my opinion. I'm looking at building shorts around 57-58 with the aim of taking 2/3 of my position off the table fairly early and leaving a third of my position to run to see if we gain some distance to the down side. Video explains all.