USOIL waiting for a breakout to complete 5th wave

TVC:USOIL   CFDs on WTI Crude Oil
As pictured on the chart, USOIL has been consolidation for a while, which could be seen as the 4th correction wave.

Overall I have a bullish bias and will be looking for a breakout of the range in order to see the 5th wave completion, right up to the next zone of resistance at around 60$.

BUT be careful! It is currently sitting at the top of that range which is a place where we could see it bounce down once more. That being said, watch your entries if you want to trade the breakout, because we could still see some nice bearish move from that resistance zone .

Play it safe, good luck!
Comment: Please note that we must not rush this trade.
The dollar's strenght will have an impact on oil.


Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out