2016-01-29_00-46-03crude oil

Dear Traders,

Price is retracing on crude where the area of 35.50 to 37.50 is now acting as resistance.

If the area holds and price prints a bearish engulfing candle or if we get a 5/8 moving average cross down then we would be trading with the path of least resistance.

As long as we get lower lows and lower highs only short trades are suggested.

The stop loss would go over the resistance and I like to leave my target open and be naturally stopped out while trailing my stop.

Best of Pips

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