Crude Oil: Another Move to the Down and Then Watch for Longs

Without a question, our last short trade setup in crude oil was an outstanding one. After the breakout below the corrective structure, the price collapsed with no brakes, and now tests the lower parallel of the daily upsloping pitchfork. I believe that there is another small move to the down towards the sliding parallel. Most likely we shall see a correction, above or below the lower parallel before price drops. If it reaches the sliding parallel, we should start watching for a buy setup as the level offers very good support, from both the sliding parallel and the lower parallel of the green pitchfork.

Previous crude oil idea:

Commentaire:

Price reached the lower parallel of the downsloping pitchfork from where it bounced and started an up move. Watch for a buy setup completion and go long with crude oil