I had a plan to short the US Crude from the level around 58.7. I did not manage to succeed to fulfill this plan, however, now the price retrace up in the past several days and I am wondering if this could be a good opportunity to catch the second wave on the short side. For now, my plan is to wait for a break on the 1h range and to enter short around 57.3 with a target at the bottom of the previous 1h range - around 56.4.
If the crude oil inventory is bearish this will help a lot but of course, this is a very speculative idea.
Do you agree with this idea or you think that the downtre