Crude Oil could break support and fall hard!

27th Sept Crude Oil

I was long Crude Oil earlier this week after it had formed a pinbar on a support line as you can see in the above chart. The price action unfortunately has not managed a sustain move upwards. In fact, everytime it has, it has been pushed down. On Friday, the price made another go at heading north but again, got pushed down.

I’m still in my trade and anything could still happen but I’m starting to feel that it’s more bearish than bullish particularly after a strong push down when the market tried to go up. Anyway, a break of support should mean quite a strong move down.. first target 10000.

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Category: Oil, Trading