Oil is set up to go lower but you need to wait for the signalCrude Oil FuturesNYMEX:CL1!ScottBogatinWednesday 29 oil is an expanded market . This is the kind of market that you want to trade because it gives you tremendous reward with relatively small risk if you know how to handle the trade. I explain what you should look for. The beauty of expanding markets is that they are profitable to both buyers and sellers if you know how to manage reversal patterns and some Fibonacci patterns. You don't need to trade markets that are not clear to you so wait since the expanded markets when they look like something that you see with the oil market because you'll get a chance whether you're a buyer or a seller as long as you understand patterns. .... One last thing.... I couldn't remember the term for head and shoulder patterns... I don't use them because what I do is better for me but a lot of people do look for that pattern and they make money.