I like the look of Oil this week. Multiple topping patterns added to a reversal zone and downside which wouldn't require the trend to change. Entry point would presumably be a break of the short term TL but with recent price action this may be tricky to nail. Given a big enough move before the candle close may invalidate the trade before it gets off the ground. We will deal with what comes our way, but I will be hesitant if target requires a significant break of the lower trend line.
Note
Although price has continued higher and broken out of the lines drawn, it is still possible to extend the Div lines and still encompass the moves. This still gives us a potential target down towards 58.00 AND maintains the uptrend.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.