WTI – Sell Setup Profits, New Role Reversal Level in Play (2hr chart)
On December 29th and earlier we talked about in the members commentary of selling WTI Oil between 53.50 – 54.45, looking to get short within this sell zone. As you can see from the chart below, this played out to perfection as price action went right into our sell zone, with the offers holding, and then sending it lower.
Any traders who got short on this would be up a heavy profit now and excellent risk:reward trade.
The commodity recently formed another role reversal level around 52.15 which I’d be open to short on a rally and up to 53.50 again. Downside targets are 50, 46.75 and …... Keep reading