WTI OIL Potential Market Top. Time to sell again? Risk involved.

Those who follow me for a long time here and on Reddit know how bullish I've been on WTI since the rescue packages arrived in 2020. Since March 08 2021, though a new and very well structured Megaphone pattern has emerged that has allowed us to trade both directions with high efficiency. Most recently, since November 30 to be exact, I've started with buy trades on the expected rally to the Higher Highs trend-line of this Megaphone:

All targets during that leg have been accomplished and now WTI Oil is getting very close to the top of the pattern. Notice that during the previous rally of late August - late October 2021, this Top was projected by the Ichimoku squeeze. This squeeze is only 1 week away, so technically it is a valid strategy to start selling again. Now of course selling a long-term bullish market is a counter-trend move and involves higher risk than dip buying, so approach this strategy in accordance to your risk tolerance.

Technically, targeting the 0.5 Fibonacci retracement level or at least the 1D MA100 (green trend-line) is a viable option.





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