Abdul_B

USOIL - Beginners Technical Chart

TVC:USOIL   CFDs on WTI Crude Oil
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We don’t know what direction the breakout will be, but we do know that the market will most likely break out. Eventually, one side of the market will give in. We can place entry orders above the slope of the lower highs and below the slope of the higher lows. Since we already know that the price is going to break out, we can just hitch a ride in whatever direction the market moves.
Sep 19
Comment:
Sep 24
Trade closed: target reached: First target hit @ 71.39
Sep 25
Trade closed: target reached
Sep 25
Trade closed manually
Bears are going to lose, as the bullish sentiment grossly out weighs anything bearish. S&P global platts expecting a crude, gas, and distillates draw this week on top of Saudis being cool with keeping the price of oil high.

Bears selling now/ opening shorts are going to get fucked
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Wish one side would just make up their minds already, although the ball is in the Bulls court.
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Technically this Triangle, due to the underlyinf 1D buying pressure, should emerge as a 4H Channel Up and attempt a 71.88 Higher High this week. We remain bullish with TP = 71.88 and 72.86 in extension:

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