Crude OIL (WTI) UPDATE: some thoughts on possible scenario's...

FX:USOIL   Crude Oil (WTI)
381 0 5
Possible retracement up to the 40 region might be in progress, I wasn't in on time so I think I'll just sit this one out until the next opportunity comes along.

I still think we need a last push down before we can start a new longer term uptrend so I'm still thinking we might get below 30 and close to 27.5 and maybe even 25....
A long entry that low would be ideal, but maybe too good to be true... Anyway the spot where a possible AB=CD ends is still my preferred long entry point (as in previously published idea linked below).

If we break above the trendline of this ending diagonal though I will be looking to go long earlier to possibly complete the cypher drawn on chart.

I am also considering a small short at that trendline around the 40 level but I'm thinking of using a tighter SL as depicted here, I'll decide when we get closer...

Below the cypher C point I will be looking to go short with targets at the AB=CD completion zone.
United States
United Kingdom
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out