Bearish outlook on oil, expecting price to move down to 40.36 this month and maybe even lower.


Oil has been on a down trend on the D1 chart, making lower lows and lower highs. At the beginning of the month price came off MM3 and the projected target is 40.36 and if this happens we will have made a lower low indicating that oil could go even lower, only time will tell but i will be prepared.


As a bear i want price to move up to role reversal or WM3 then i will look for opportunities to sell. right now stochastics is oversold so maybe we see it come up. this will allow bears to sell high which is want we want. So we will be waiting for price to move up so we can sell.


Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.