Oil Shorts Continued

Following on from our oil shorts post, I thought a quiet Friday Asian session would be the perfect time to do a little update.

Oil Hourly:
Click on chart to see a larger view.

Already we can see these types of short term pullbacks holding perfectly.

Are shorts in play already?

With the higher time frame level still in play, let’s take a look at what the levels are doing now:

Oil Hourly:
Click on chart to see a larger view.

As you can see, not only the higher time frame level that was the basis of the previous blog has held, but both of these short term levels are also still in play.

Are you watching these levels and do you see them as in play? How are you looking to manage your risk around them?

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Dane Williams – @VantageFX

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Source: Vantage FX Blog