WTI Crude Oil is on the MA50 (4h) again after a week. The Falling Resistance since the June 4th High is the critical level that will determine our trading plan.
Trading Plan: 1. Buy if the price crosses and closes a candle over the Falling Resistance. 2. Sell for as long as it remains under it.
Targets: 1. 74.00 (expected contact with the MA100 1d). 2. 67.00 (Support 1).
Tips: 1. The RSI (4h) rebounded after getting oversold under 30.00, same as with the May 3rd and May 31st lows. Both hit the Rising Resistance.
I guess we have a similar view on this pair, well done!
baigxy
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good analysis, I have the same idea, could go either bullish or bearish.. but technically rsi bullish divergences are possible
obviousSeafowl99598
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100% agree, just closed on a buy 12hour chart, coming days I am looking for a 3rd test of 74.00 Then a pull back and we should then see a breakout of 74.00 on the 4th attempt to then target 80.00
pejman_zwin
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Never seen such accuracy before.🤑
LegionQ8
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I love this method, thank you for great USOIL idea !
WalterMoon
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Clear USOIL post, thank you for your insights
Solldy
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Very, very timely idea. It's a great market and entry point for such a strategy.
ArmanShabanTrading
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I like your style.
Gold-Tech
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Wow, great technical analysis. I like your work.
RLinda
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This is probably the best publication on this asset in the current market sentiment + I've seen a couple of news stories that would also support this idea. Thanks for sharing)