TMV Swing Trade report – short August Crude oil @ 96.60 – current price @ 95.61 – The sharp decline that occurred during Wednesday’s session, bounced off the lower parallel line support and moved into a consolidation pattern. Although, the long-term cycle is still bearish, I expect a short-term corrective bounce before the market can resume the downward trend. Therefore, this is a good time to close the short position and bank gains. I will continue to watch the crude for another signal pattern to re-enter a short position.
