WTI OIL - price looking for new resistance - short from 56,60 $

Price dumped last Friday after confirming double top in short term view. RSI and MACD on higher time frames showing continuation of correction in next days. Price retraced first time from 38,2 fibonacci support which is in generell indicator for an strong trend bug trend continuation was not confirmed and that is the reason why the price fall that much in short time. In my opinion the price will go up to 56.60 at least or 57,24 $ from there I will open short order with low risk and high reward ratio. 20D moving average (important for small time frames) going to cross the 50D moving average which is already loosing momentum.

Good luck to all.

עסקה פעילה:

Both entrys active

עסקה סגורה: הגיע לסטופ:

stop loss at entry 1 reached and trade closed