Day Trading Oil | Buy Oil or Sell Oil?

Oil Being falling since very long time on very good volume. One day or another…it need to stop, and go back Up. And…finally it look like this time is coming!

…will be very happy to add Oil to my others 6positive trades portfolio right now!

Day Trading Oil

Day Trading Oil | Buy Oil or Sell Oil?

On weekly chart, we can see how the down trend line was useful for long position. But this time, it doesn’t look as good as it use to be.  But…how ever , we may have some amazing time to buy long, and retest last highs at 100.00 points.

Volume are also quite low, but this may also be due to Futures contract roll over. Is why I prefer to not take them in consideration.

hm…let’s see now on daily chart what we can see…

Day Trading Oil Daily

Day Trading Oil | Buy Oil or Sell Oil?

Daily chart look amazing for long trade right now.  As we hit an important resistance at 91-92 points, we also breaking Lower-Low pattern, by creating an pregnant.

This trade are not hard to get it… if we break the Down trend, we are going back to 94$ at first.  ( 200 SMA). Once it will hit this level, we should expect some resistance, and then, we will see for next move.

This trade is a very risky one, since you going againt a trend. so make your proper decision carefully, especially if you trade cash!