The OIL has formed a very strong chart pattern - the Descending Triangle. This pattern is a strong reversal chart pattern that usually leads to breakout downwards. Pattern's size is 40$ - a size that allows us some very profitable trades with good risk:reward ratio.
Trading:
Enter short at the breakout of support
Enter short at resistance (after reversal signals from price)
Analysis:
http://support-and-resistance-trading.com/2009/09/16/oil-descending-triangle-bearish-pattern/
Trading:
Enter short at the breakout of support
Enter short at resistance (after reversal signals from price)
Analysis:
http://support-and-resistance-trading.com/2009/09/16/oil-descending-triangle-bearish-pattern/