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So without further due. Keep it short/simple and to the point.
USOIL 4hour BEST level to BUY 30% gains(NEW) IMPORTANT: this is a speculative setup, performance is not guaranteed, so please use a tight stop loss. and always do your own due dill. thank you. TAGGED AS SHORT, because I expect more short-term losses before reversal.
USOIL 4hour chart review.
Hey guys, so let's review the USOIL 4hour chart real quick, we got a breakdown of hey S/R level at 20.00, currently trading at 18.45. It's possible that short-term bottom will be set later next week near 15/16.00, why?
Because it's possible that we are nearing the Covid-19 peak of the outbreak globally and within few weeks countries will start opening up the economies, so consumption should be back ON, this in turn should produce a cycle low in oil prices.
Anyway, I don't recommend buying near 15.00, wait for H4 candle close above key S/R @ 20.00 and ONLY THEN load up on BUY side TP is 28.00 +30/35% gains.
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@ProjectSyndicate , your previous idea is to buy near 15/16, are you seeing now that oil could go lower? Is that why recommending not buying at this level any more? Where do you see the bottom for oil? Thanks!
tradingbillionaire
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It taskes a special kind of idiot to press "Sell" with oil at 16 USD. WIll never get it.
@yehia313, Who cares? This market is piece of shit. It takes a special kind of moron to get the market here.
yehia313
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@tradingbillionaire, you can earn large $ in few days with a high volatility market like this one that it would normally take couple months or years to earn.
tradingbillionaire
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@yehia313, I would never ever SELL an asset at such prices.
yehia313
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@tradingbillionaire, some analysts are predicting negative oil prices. just saying.
tradingbillionaire
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@yehia313, Is that even possible? Most analysts predicted AUD/USD 1.20 some time ago. Total idiots with no balls.