Vantage FX
VantageFx Representative
- Messages
- 174
Chart of the Day:
Across into the realm of Commodities Trading for today’s chart of the day.
Oil Daily:
Click on chart to see a larger view.
After speaking about oil last week, one week later and price is still capped by the descending trend line. We were looking for the market to find some sellers as price approached trend line resistance and then to find an opportunity to short as it fell through the marked zone.
The setup has now reached its now or never moment. Trade the reaction or let it go with sideways chop expected if the trend line isn’t able to break or hold with a momentum type move from here.
Find more Oil Trading Technical Analysis on the Vantage FX News Centre
Across into the realm of Commodities Trading for today’s chart of the day.
Oil Daily:
Click on chart to see a larger view.
After speaking about oil last week, one week later and price is still capped by the descending trend line. We were looking for the market to find some sellers as price approached trend line resistance and then to find an opportunity to short as it fell through the marked zone.
The setup has now reached its now or never moment. Trade the reaction or let it go with sideways chop expected if the trend line isn’t able to break or hold with a momentum type move from here.
Find more Oil Trading Technical Analysis on the Vantage FX News Centre