Wait for full rejection of region showed above then short it for at least 150 pips, Oil is very aggressive at the minute. But, this mild pull back from the 61.8 was expected.
Huge WTI set up for next week. As Oil approaches the 0.5 fib level on the daily with a RT and strong supply level. Expecting a lot of manipulation at this level as the picture is clear to retail. Need to see strong confirmation in the region shown above, before considering any shorts. Caught Oil longs last week from the 52 level and will be looking to switch to shorts if supply is held. Numerous confluences in this area and I am liking this a lot , the middle east is causing Oil to rally at this moment in time so technicals can easily be taken out with ease, lets see how it plays. One for the watchlist.
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