steve-o

steve-o

O'Hare: Crude flows lower

5h ago
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Description

Steve O'Hare is looking at trading crude oil, he notes that recent price action saw seven out of eight negative daily sessions, since posting a high around the 61.8% Fibonacci level; a retracement of the previous down-move. Steve sees the drive lower forming the second part of an ABCD formation and will target the 96.50 USD area. He sees no signs of a smooth slowing down so intends to set shorts but prefers to sell into any pull-back. Steve is looking to sell at 98.75 Stop: 99.25 Targets: 97.60 and 96.50