0811 usoil looking for a correction.

TVC:USOIL   CFDs on WTI Crude Oil
USOIL has drop down for such a long time that made 9 waves already.

Its still has chance to touch 60 soon as Trump want lower it down as much as possible.

Before that happen, lets assume that price could probably break the trendline first to make some corrections.
And those corrections could make it back to 62.6-64.80. 220 pips to hunt ON 4h chart.
And watch out! It has a blue gap as the strongest resistance zone for buyers.

Now just waiting for more signals to appear soon.

Less is more!
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The 1D Channel Down is too strong and needs to be broken upwards with two straight strong candles in order to confirm an uptrend. Meanwhile, it is close to our TP = 60.20:

Interesting hypothesis. I think there is nothing to suggest there won't be a tenth, eleventh, twelfth. Very dangerous to try call and predict a bottom. The trend is your friend until you know for certain it has changed.
kate25 johnmknox
@johnmknox, chart
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