goodguy
Long

Crude Oil 2 hour log: Best guess I have.

FX:USOIL   CFDs on Crude Oil (WTI)
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Crude oil             by my view is in a corrective pattern which is very unpredictable with lots of back and forth action. The daily chart (not shown) is developing a strong negative reversal in the RSI . But the 2 hour chart shown here has a positive reversal suggesting a higher price to come before a major down move. The near term action looks like a triangle. So my best guess is that there will be another .a-.b-.c up from here. Like always I could be wrong. Only the market knows. Take care. Goodguy.
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