tradafx

A reversal pattern appeared at an important zone with OIL

TVC:USOIL   CFDs on WTI Crude Oil
H4 time frame.
Structure: Downtrend.
After the price rose to the important Key level of 70.00, there is now a head and shoulders - reversal pattern.
Now waiting for the price to clearly break this reversal pattern or break the Key level up move at the price of 67.000, we can find selling opportunities.
The profit target is the 62.000 zone.
-----------------------------------------------------------------------------------------------
Wish you all have a good trading day!

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.