Trading opportunity for USOIL next week (2016-07-17)

NYMEX:CL1!   Light Crude Oil Futures
USOIL             has broken out of the bearish trend line . From daily chart it seems that oil             got supported from the channel line and red support line.
From time cycle oil             completed the correction cycle time which is at around July 15th.
We can open a small long position with
TP1: 46.9
TP2: 47.9

Good luck for everyone!

Notes: If oil             can break out of the beaish channel, it will confirm more up.
Looks good sir! 47.88 looks like a very strong price, hopefully we'll get a push up through it this week!
+1 Reply
smitheric1970 PRO smitheric1970
+1 Reply
zhipengcfel smitheric1970
Thanks for your sharing! Very nice analysis!
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