moneyflow_trader

Oil 3yr forecast Rounding Top on Monthly Inverted Cup/handle

Long
moneyflow_trader Updated   
TVC:USOIL   CFDs on WTI Crude Oil
Bull Flag Breakout set up on the weekly, and can be seen on the monthly chart as well.. However, i'm presenting a monthly chart view. From D leg, anticipate oil getting very bullish w/ a possible low as $80 (dip) w/ a movement to A leg of $130.00 previous high. Based on projections, Oil could reject this level 3x before completing the rounding Top and A sell off of C Leg.. The Breakout is shorting oil below the handle. The Inverted cup/handle trade is not a bullish trade, its a bearish trade set up.. I'm bullish w/ a revisit back to All time highs, and will look to short the all time highs again on A leg, C the finally leg I see at the ATH...

Since this is a monthly chart, you got to be fluid and willing to adjust to market conditions..
Comment:
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.