Technician

Oil and Copper Diverging= Monitoring for A New Short Oppurtunity

שורט
FX:USOIL   CFDs on Crude Oil (WTI)
My prior attempt to short oil @ wasn't successful, however that doesn't prove the failure of analysis. at least so far, its only the trade wasn't taken at the right time i believe. Accordingly, i look for a new lower time frame bearish signal, through a trend line break or horizontal support break to short oil once again, i will keep u posted with update. Check text below for further analysis

Crude is rising, meantime, copper is under heavy pressure. In a previous post I discussed how the two commodities are positively correlated to a large degree (), and in most cases copper lead oil prices. Having that said, I am monitoring carefully for a potential oil short position.as copper broke below a key support at 3.27 and heading lower, on the other hand crude is testing its falling trend line.

Thanks For Reading and Best of luck for All.
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