SynapseTrading
Long

Crude Oil (Daily Chart) - Time for a Rebound!

TVC:USOIL   CFDs on WTI Crude Oil
After a prolonged bearish sell down, this counter might be overdue for a rebound, which we might see this week.

There is strong support at the $60 level, and prices have deviated very far from the 20-EMA, which is a sign of it being oversold.

The overall trend is still bearish , and if it does rebound, I would expect the sellers to step back in at around $64 to resume the downtrend.
Thank you for your input. We see the rebound extending at least to 64.00:

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SynapseTrading InvestingScope
@InvestingScope, I am not so greedy haha
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