The OIL has formed a very strong chart pattern - the Descending Triangle. This pattern is a strong reversal chart pattern that usually leads to breakout downwards. Pattern's size is 40$ - a size that allows us some very profitable trades with good risk:reward ratio.
Enter short at the breakout of support
Enter short at resistance (after reversal signals from price)
OIL – Descending Triangle (Bearish Pattern) | Support and Resistance Trading