WTI: USOIL: Close to target so closing down shorts
WTI: USOIL It's not quite reached the target yet by about 11 pips but if it touches that perfect level it will likely only be a spike, so am closing out here and thinking about a counter rally long for 100 pips - still overall bearish though so still looking to short again, but hopefully from higher up - or on a break below first target as per comment.
This second short has not gone well. Apologies. Stopped out at
45.78. Recent price action is hard to read right now...is that a
continuation pattern or reversal? Support and resistance now
need widening as a result of last 24 hours' price action.
Think it's continuation but not clear enough yet...If in doubt
stay out. So am standing back and waiting for a clear break of
either support at 45.20 aiming for 43.74 downside target, or
potentially of resistance at 46.11 for quick counter-rally to
46.73 minimum and 47.01 maximum before WTI collapses
again, opening the opportunity for another short from higher
levels.