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IvanLabrie

USOIL: Oil likely bottomed with stocks already...

Long
CFDs on WTI Crude Oil (TVC:USOIL)  
IvanLabrie  
TVC:USOIL   CFDs on WTI Crude Oil
Trend Analysis Chart Patterns Beyond Technical Analysis Crude Oil WTI timeatmode rgmov
29
4
trendanalysis chartpattern beyondta usoil timeatmode rgmov
Monthly oil had flashed a downtrend signal recently, and appears to have bottomed after moving past target #1 and almost 70% of the range of the 2nd target. Sentiment peaked in all markets, stocks and oil, and BTC, I think we may have seen the worst of the decline already. Interestingly, people are now changing their mind regarding stocks and crypto, hearing many say they want to sell rallies...that is typical of market bottoms before trending up again.

Cheers,

Ivan Labrie.
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