InvestingScope
Long

WTI Oil: Medium term Buy opportunity.

TVC:USOIL   CFDs on WTI Crude Oil
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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I concur!
+1 Reply
@etrade333, Was a good trade indeed.
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