Crude Oil - We look to Sell at 4820
|Crude Oil- We look to Sell at 4820 (stop at 4860).
Crude Oil - Price action has posted a bearish Engulfing Candle and is negative for short-term sentiment. A lack of clear direction has formed a channel on the intraday chart that has a mild bias to break lower. Further selling is expected to follow with the hourly Ichimoku cloud and our bespoke resistance (4820) offering incentive. Preferred trade is to sell into rallies. Our profit targets will be 4720 and 4650.
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