Kumowizard
Long

WTI - Buy the next dip or the break

FX:USOIL   CFDs on Crude Oil (WTI)
186 0 2
Update to my previous post (see link below).

Daily: MACD and Slow Stoch turning bullish , and the secunder downtrend is breaking. From here we have increasing chance for a correction with possible tgts at 79 and 82,50.

4 Hrs: We had the expected lower low and Price tested the Kumo and 100 WMA . This small move caused buy signals in ROC indicators and DMI, Price broke the downtrendline, but the upper resistance still holds. Now if we believe a counter trend action may take place, we can follow two buy strategies. Place limit buy at 75 - 75,25 retracement level (as Slow Stoch is overbought, we may see one more small dip before the reversal), or stop buy at the break 76,50
Stop loss at 73,90.
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