InvestingScope

Bullish reversal in progress. Long.

Long
FX:USOIL   CFDs on Crude Oil (WTI)
1D has started breaking into neutral levels (RSI = 45.047), covering the MA100, and although the curve took a slight extension, 4H is on adequate bullish levels (ADX = 34.737, B/BP = 1.0760) to justify a strong bullish leg tomorrow. The candle similarities on 1D (see chart) makes for a perfect pattern recognition into a strong bullish candle after tomorrow's Crude Oil Inventories (early E.U. speculation though can keep the price low ~ 67.70 before finally filling the 70.85 Gap. We remain bullish, TP = 71.88 and 72.86 in extension.

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