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Lanmar

The next bigger move in oil is likely up

Long
CFDs on WTI Crude Oil (TVC:USOIL)  
Lanmar Updated   
TVC:USOIL   CFDs on WTI Crude Oil
Trend Analysis Technical Indicators Crude Oil WTI
11
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trendanalysis indicator usoil
Oil has the attention of the top calling bears, but the way I see it, it won't make it easy to call the top, like it never does. Based on the structure I'm seeing, a move higher is more likely, and I expect it soon.
Comment:
Looks to be breaking out on the 4hr chart now with an intraday H&S confirmed above key neckline.
snapshot

Consensus trade is down not up, that's why up is more likely.
Comment:
4hr close on the ascending triangle confirmed + horizontal resistance broken. This is the first time all month it closed above its intra-month highs.
snapshot
Comment:
Very important for me that oil holds today's lows. I have no interest in being part of the noise that could be inside the consolidation. I want this trade to work fast or I don't want to be in it.
snapshot
My concern with oil trading higher right now is gas futures - they don't look good to me.
Comment:
Looks like it could be breaking out now.
snapshot
Trade closed: target reached
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