The tensions created by the US-China trade war lost US oil about $ 4 yesterday.
In addition, the quote did not manage to break through yesterday’s low, but stopped in its vicinity, thereby forming a “double bottom” in the D1 chart.
I suggest that we consider the classic three wave with profit taking at the level of 22.5 in the June futures:
Today, traders will continue winning back yesterday’s loss at the European and American sessions, and fix long positions, so as not to transfer them to the weekend. If the breakout of the double bottom platform is volatile, we recommend closing short positions at the close of the hourly candle below 22.5. The risk / profit ratio is 1/2.
Good luck in trading, control risks and have a good weekend!