USOIL : Daily View. Potential Target $36

Crown patterns emerges very evidently. Conventional target $36 which is 0.618 fib retracement.
Any news can give breakout from the pattern and rally towards $54-$55

Be careful

Long term trade
Short Entry Price : 44.30 (Candle Close below)
SL : $ 46.65
TG1 : $43.01
TG2 : $38.85
TG3 : $36.03

Pls refer to all Resistance line (Maroon)

PS. Generally I dont believe in support and resistance theory. Those are heaven for brokers.

Happy Trading

Trade active:

Short at $43.8
clean breakout ! surviving on R1 43.01

Comment:

Broke 43.01 Support.
Targeting 41.71

Trade closed: target reached:

Target 1 reached
We also breached Important level 42.

Comment:

Taking Partial close. step by step.

Trade closed: target reached:

We touched 41.74. That is 0.382 Fib.
Now we can see little bounce and consolidation.
though FOMC can change things.

Comment:

Very close to 41. wooohoo

Comment:

Breached 40 and made 39.29 Low.
After Data trying for upward correction.
I still have same view. Oil is bearish at least till 36.

Comment:

Made strong Upmove, Watching Trendline to break.

Comment:

We have Breakout at 43.30
Possible scenario

Comment:

Made very Impulsive candle. might test resistance of previous penant 44.5

Trade closed manually:

We broke out 44.5 very clear.
we have done the down cycle
first target 46.5 and then towards 51-52 channel top.
All dips are buy for now.
I will end this chart here.
This New bull deserves new chart.
Thanks folks for all likes and support.