Only charts

Wti crude oil has fallen as much as 53.59$ per barrel , thanks to saudia arabia. Trump thanked saudia arabia yesterday on twitter for the cheap oil prices and asked for more declines. However , i dont see any further decline coming anytime soon as long as we stat above 53.50$ Target should be around 56.80$ . your stop loss on hourly close below 53.50$ .

WTI (OIL) is currently facing a bearish trendline and trading below resistance at 51.07 on the 4h chart. It looks supported on the daily chart around 49.80$ and looking for further advances. However the bearish trendline and the horizontal resistance is putting alot of downward pressure . So , It is recommended that we wait for a 4h candle close above 51.07$ area. Or you can go short at this area and your stop loss should be on a 4h close above 51.07$. I am not decided on that trade , pickup any scenario , it is going to be profitable either way.