coolingla

USOIL Will Likely Reach $58 Before June

FX:USOIL   CFDs on Crude Oil (WTI)
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Essentially, this is the same chart I published more than a month ago. I don't see any major modification is needed at this point.

As I have warned in my comment on my last chart, $53 is a price level to watch since it's a mid point to the $58 target. Now, this retrace should complete at $51.50, $50 or $48, with $51.50 being the most likely inflection level in my opinion.

Longs should hold for now.
Comment: Look for inflection point at $48.50 when next EIA report comes out on 4/26/2017
Comment: USOIL looks weak but $58 by mid June is still possible.

Comments

Prescient call.
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coolingla HFI-Research
@HFI-Research, Thanks. Let's see what happened next.
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xD
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