InvestingScope
Long

WTI Oil: Can it repeat this pattern?

TVC:USOIL   CFDs on WTI Crude Oil
Oil has been trading within a 1D Channel Up ( RSI @ 56.792, MACD @ 1.060, Highs/Lows @ 0.0000). It is currently on the inner support zone and may rebound although the technical Higher Low extension is seen lower. As seen on the chart it has been repeating a very specific pattern where a 4H Channel Up is followed by a longer but less aggressive pull back. The price is currently on this pull back phase where it may rebound now back to 60.00 before a new drop within 57.50 - 58.00 for the Higher Low. We are buying both of these lows with TP = 63.00 (Higher High based on the H/H minimum difference).







** If you like our free content follow our profile (https://www.tradingview.com/u/InvestingS...) to get more daily ideas. **

Comments and likes are greatly appreciated.
High quality signals (http://www.investingscope.com) for live buy/sell opportunities on a variety of financial assets.
+1
Reply
Oil looks a wee bit parabolic.
Reply
@veryevilone, Thanks for sharing. Indeed it does.
Reply
Have same chart in my private posts, you should look at NZD/JPY on 4HR view, same channel/pattern there, been trading that the past week.
Reply
@Dani0, Good to have the same perspective on this.
Reply
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Send feedback Ideas Published Followers Following Private Messages Chat Sign Out