|Crude Oil Anchor Chart|
The anchor chart of Crude Oil is moving lower this morning however we have a bullish long-term trend that is in our way. We see the higher-highs and a new lower-lows as the bullish price-channel is being threatened.
The set-up chart shows us lower-lows and lower-highs along with a bearish trend price-channel so we have what we need to sell short this morning as soon as we see the entry pattern.
|Crude Oil Set-Up Chart|
Once we get short this morning our profit-targets will be using the PLOD from last week at 101.51 and the previous weekly lows of 101.05