Oil begin to slow down when it peaked at $52 at NY trading session yesterday. From then on, the bulls are struggling to push price higher. I’d be looking for signs of reversal on smaller TF for a short on CADJPY.

US Oil 4hr

There's divergence on the 4hr chart, and price is struggling to make a new high.

US Oil 1hr

price is approaching resistance with less bulls buying and stochastic in the overbought territory.


Similar price action on CADJPY pair where price is struggling to make new high


Price is reversing from the 50% Fib retracement with profit target at 138.2%. An average of 100 pips in profit Target

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