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TheDayzen

CL-OIL Waterfall ?

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TheDayzen  
CURRENCYCOM:OIL_CRUDE   None
Chart Patterns Fundamental Analysis Technical Indicators Oil oiltrading Bearish Patterns shortsetup
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chartpattern fundamental indicator oil oiltrading bearish shortsetup
In US oil we are looking at a price that just tested the previous support turned resistance and that completely falls in line with the neckline of the M formation on the daily timeframe. In the Monthly timeframe we have a W formation that is forming and we would like the price to fall under the 49.70
The EMAs are already cut for short and the MACD shows that the environment is bearish.

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