USOIL - One of The Best Short Position! Sellers In Control?
Hi Traders. Recap back in early to mid June, I've been talking about selling opportunities on Oil as price continuously failed at the 123 key daily resistance area multiple times.
Then the strong sell-off basically validated the whole plan, afterwards I talked about more sells around 119, 116, etc...
As for now, if you simply compare the sellers V buyers momentum, in the short-term definitely sellers are in control.
A break below 95-94 may induce more selling pressure all the way towards 86 - 87 supports.
However, if price couldn't break below 95 then its defending the nearest support, therefore, I wont be looking for further selling opportunities yet.
If you enjoy the content, make sure you follow my profile and click the like button.
Take care and trade safe.
All the content I've posted are for educational purposes, please perform your own research and only take it as a reference.
Then the strong sell-off basically validated the whole plan, afterwards I talked about more sells around 119, 116, etc...
As for now, if you simply compare the sellers V buyers momentum, in the short-term definitely sellers are in control.
A break below 95-94 may induce more selling pressure all the way towards 86 - 87 supports.
However, if price couldn't break below 95 then its defending the nearest support, therefore, I wont be looking for further selling opportunities yet.
If you enjoy the content, make sure you follow my profile and click the like button.
Take care and trade safe.
All the content I've posted are for educational purposes, please perform your own research and only take it as a reference.
