VasilyTrader

CRUDE OIL (WTI) Channel Violation & Bearish Continuation

Short
FX:USOIL   CFDs sur Pétrole brut (WTI)

hey guys,

confirmed bearish breakout of a rising channel on WTI.

the price has formed a perfect descending triangle first,
and after a couple of hours, it managed to break both the support of the triangle and support of the channel.

now we can expect a further bearish continuation.

most likely the price will retest the broken channel giving us the safest entry.

initial goal is 39.65

it is based on a major rising trend line on 4h/daily.
then we will wait for a reaction of the market on that.


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