Oil 27/09/2012 - 4h Chart Analysis OIL 4 HOURS CHART COMMENTS: If you had the chance to view the video trading analysis posted yesterday forecasting the evolution of the Oil’s price, you had already appreciate its accuracy. Sooner or later the price will try to test the 50SMA by loosing time either, by side stepping, or, by a fast short correction. In case the price does reverse at the 0.382 Fibo grade instead of continuing its fall, the present correction is an internal “pull back” to be followed by a main trend continuation that will take the price above the 100usd level. Vice-versa, in case the price continues falling below the 0.382 Fibo grade, the reliability of a scenario wanting the price to return rising is reduced. In this case the price will target levels around the 80,00usd (0.618 and 0.78 Fibo grades as shown in the chart). SUGGESTIONS: I hope you are holding short positions as a result of the strategy we set up yesterday. Hang in there, Reduce a little your “speed” in other words “short exposure” but hang in the short positions. Once, below the 0.382 Fibo grade, you re-accelerate. Stop loss, if you want to follow the popular saying: “cut your losses short and leave you profits running”, I suggest you to apply a “trailing stop loss” strategy. The stop level that closes completely your short position is above the 91,46usd. For new short positions wait the developments of the Fibo grade 0,382. Long positions must be considered after the finalization of the “love story” between the price and the 0.382 Fibo grade. Until then you keep quit and calm.