USOIL had been retracing its bearish trend the last two weeks. It is now currently at key resistance zone. Short order set up for the following reasons:
Overall trend on daily chart is down
Price resisted key resistance zone at 47.00 to 47.75 (previous April 2016 to June 2017 channel support now became resistance)
Forming a shooting star candlestick patteren (bearish wick protruding surrounding price action with bearish close)
Sufficient confluence to support a short, but due to recent higher low that formed, stop will be moved to breakeven at around 45.00
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