USOIL - Three Drives Pattern potential, Back to $44 and maybe 38

Short

CFDs on Crude Oil (WTI) (FX:USOIL)

Updated

FX:USOIL CFDs on Crude Oil (WTI)

I believe USOIL is going back to $44 and then to $38 is very possible by sometime in July to August. Just an idea.

Comment:

Moving down like it should. Was hoping it would go slowly. Was going to buy another leg down. Need to wait for another pullback

Comment:

Here is the current channel blown-up compared to my chart

snapshot

Comment:

Looks like one more leg down and then watch for reversal

Comment:

Leg down continued to bottom of the trend. Nice move if you are still holding from around $50

Comment:

updated channel chart

snapshot

Trade closed: target reached:

T1 reached, $44, now we watch and see if it continues trend or works it's way back up following the trend to the upside

Comment:

Updated chart, added some more information

snapshot

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