InvestingScope

High achieved. Trading on 1D Resistance levels. Long intact.

Long
FX:USOIL   CFDs on Crude Oil (WTI)
The 70.43 High landmark was achieved as the 4H Channel Up (RSI = 61.205, MACD = 0.480) made a Higher High at 70.50. It is now seen trading sideways (Highs/Lows = 0.0000) on an early weekly trade whose early Inventory speculation will indicate what the market expects of the next report, hence the trend for Tuesday, (early) Wednesday. This doesn't affect our long term bullish approach, as the Higher Low on the 1W Channel Up has already been made at 64.40 and 1D is trading on bullish tech (RSI = 58.588, Highs/Lows = 1.0979, BBP = 1.4940) on the 70.18 - 70.85 Resistance zone. Targets intact: TP = 71.88 and 72.86 in extension.

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