USOIL: closely monitoring..which direction going to go?
Global uncertainty around coronavirus still present and oil price is pretty much under selling pressure..
..according to the trend it seems logical to join bears if the price closes below the triangle chart pattern formed on 4h time-frame.
However, if there will be any sign of positiveness regarding vaccine or OPEC members decide to cut the supply of oil the price should go up, so it's better to be prepared for joining bulls from a certain point.
Enter/exit levels are on the chart, decent R:R in both cases.
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Disclaimer:
The published idea is my opinion, not investment advice.
//
Feel free to share your opinion/position via comment and follow me to stay updated + hit like button to support my work.)
..according to the trend it seems logical to join bears if the price closes below the triangle chart pattern formed on 4h time-frame.
However, if there will be any sign of positiveness regarding vaccine or OPEC members decide to cut the supply of oil the price should go up, so it's better to be prepared for joining bulls from a certain point.
Enter/exit levels are on the chart, decent R:R in both cases.
//
Disclaimer:
The published idea is my opinion, not investment advice.
//
Feel free to share your opinion/position via comment and follow me to stay updated + hit like button to support my work.)