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InvestingScope

WTI Oil: Medium term Buy opportunity.

Long
CFDs on WTI Crude Oil (TVC:USOIL)  
InvestingScope  
TVC:USOIL   CFDs on WTI Crude Oil
Trend Analysis Chart Patterns Technical Indicators Oil WTI wtioil Crude Oil crude wticrudeoil Crude Oil WTI Commodities Energy Commodities
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trendanalysis chartpattern indicator oil wti wtioil crudeoil crude wticrudeoil usoil commodities energy
Oil took a hard hit last Friday towards the 54.85 1D Support. Technically this makes a perfect Higher Low on the 1D Channel Up (RSI = 47.115, MACD = 0.310, ADX = 20.203, Highs/Lows = -0.4050). On top of that the 4H RSI is on the lowest level since early August, so we are taking this as a strong medium term buy opportunity. Our Target Zone is 58.00 - 58.70 (region within the 4H gap fill and 1D Resistance).






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