Right now oil is in a downtrend moving through the channel shown in the analysis, also confirmed by being under the 20, 50 and 200 moving averages on the 4 hour chart.
A good place to sell would be anywhere at the top of the channel up to the purple sell line. This is because of a possible fake out.
The price should then continue moving down through the channel towards the buy point.
A good place to sell would be anywhere at the top of the channel up to the purple sell line. This is because of a possible fake out.
The price should then continue moving down through the channel towards the buy point.