Crude oil is resisting around 71-72 USD over last few days. Last week W.A of W.X is almost completed with Bearish EG candle on H4 chart, high volume also noticed with bar divergence on AO. What we are expecting?
On Friday 25th Aug 2018, I have closed all long position in anticipation of up coming lower prices of oil.
Oil is expecting to head south with at least 2 to 3 dollar difference then current price. My short entry will be below W.4 of W.a of W.X. I m expecting at least three trades over next few weeks on oil with target of revenue of at least 100 to 150 points on each trade.
After completion of W.b of the W.x, prices crosses 72 dollars then we have to adjust our count and instead of WXY it will simple 1-2-3-4-5 move. So keep an eye on when to exit the market if price goes alternate count.
