TradingShot

WTI OIL Buy Signal

Long
TVC:USOIL   CFDs on WTI Crude Oil
Pattern: Channel Down on 4H.

Signal: Buy as the current bearish leg is forming a sequence similar to the September 01 - 14 leg = Death Cross, followed by a Triangle bottom. The signal is invalidated if the Channel breaks the Lower Low trend-line.

Target: The 4H MA200.


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Comments

I am buying the UK because it is much safer.
Reply
Nice Technicals analysis!
However to be honest you need balls to invest in oil at the moment with all the countries in lockdown. I prefer to go with strong balance sheet oil majors, like TOTAL SA (FP) - Which is also diversifying its portfolio in renewable and electricity. medium/long term, it's a 100% sure win!
Reply
Thank you for your excellent analysis. Crude Oil and Brent Oil almost similar and also with the ROI very good for first investment.
Reply
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