Will Oil Gap Fill Or Moon It?

Thursday April 20th Plan

Wednesday Recap:

Crude Oil fell from 80.50 to a daily low of 78.50. Due to this selling, price is now trading below the main up trendline. Also, price has shown multiple bounces at the 79.00 level as well as at 78.50, which were obviously expected. However, the minimal buying pressure at such a critical demand zone was terrible work by the Bulls.

Today’s price action was accurately forecasted in the previous newsletter and got me two decent short trades. This can be seen below.

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Trade Plan!

So much is going through my mind! I’m super bullish about tomorrow but what exactly have the Bulls shown over the past few days? NOTHING. Plus, we are trading below 80.00 now so is the worst yet to come?

• If price accumulates above 79.54 (daily pivot) I will long to 80.00 AND then the next resistances:

- 80.50 , 81.40 , 82.00 , 82.60

• If there is strong selling pressure below 79.00 I will short to the next supports:

- 78.50 , 78.00 , 77.15 , 76.05 , 75.00

Here is the final chart:

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Thanks for making it this far, I hope to write to you again tomorrow.

Voila Trading