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Oil is Bullish but Historical Sellers are Close

By:

Nenad Kerkez

Published: Sep 27, 2021, 08:32 GMT+00:00

Oil is in uptrend but it’s getting close to historical resistance. Daily candlestick/pattern configuration is a signal for a short trade.

Oil is Bullish but Historical Sellers are Close

At this point we can clearly see the resistance. It’s highlighted in green. If we saw the market moving down that would be considered a pullback. I am aiming for a short trade on a bearish candlestick pattern configuration. Watch for it on a daily TF and look for 71.60 and 70.20 as the targets.

For a look at all of today’s economic events, check out our economic calendar.

Cheers and safe trading,

Nenad

About the Author

Nenad Kerkezcontributor

M.Ec. Nenad Kerkez aka Tarantula is Elite CurrenSeas Head trader and a valued contributor to many premium Forex and trading websites.

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