USOIL Trade setup

FX:USOIL   CFDs on Crude Oil (WTI)
Crude oil             broke the main bearish trendline . Price is at a level of resistance. I expect price to come down to test the trendline again. I'll be looking for long positions on oil             at the retest of one of the trendlines on the chart.

*Don't trade the news or the fundamental biases you have, trade what the market wants.
Looks like you didn't count highs/lows into your trend line, so it was broken already easily. The real breaking point should be around 45.9, and the market is still testing on it...
+1 Reply
Thanks for your comment, I'll look at it. You can look at my past oil analysis, I'm pretty accurate and I'm confident in my analysis.
kw1846 SimonBrisebois
You are welcome. Also I didn't mean your analysis was incorrect... But for myself, at least I will wait for the broken of 46.38, the target of the rising flag completed, to enter a long. Right now it is just too risky, especially before the API and EIA reports...
+1 Reply
Very true
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