Crude Oil looks good for a short setup
Below is a picture of the Crude Oil price chart… ok, at this level it doesn’t look that interesting…
But if you zoom in a bit more…
This is what I am seeing.
The price made a high at A but fell rather strongly.. it even fell through the support line shown where it found support a bit lower down. However, confirmation of the support line which becomes resistance via the pin bar shows that sellers are now present here driving the price down. The price is right on support but if we see this area cleared, I am expecting lower prices down to at lease 88.00
It’s a bit risky to trade is here as there is evidence of buyers at support but watch for a potential move beyond this…
