KENJICHEN

0619-USOIl Analysis

Long
TVC:USOIL   CFDs on WTI Crude Oil

USOIL
Oil got support around Fibo 0.618 at 51.60 and harshly push up yesterday, however, if oil desire to break pattern of neckline 54.52 it should not downward below 53.60 which will be the strongest scenario.

In another aspect, if oil can't stand above 53.60 this Euro mkt, then may face discontinuous K chart for following days.

So, the best strategy for today is waiting reversal horizon around time table 09:00-10:00 to long oil with 30pips SL.

Support: 53.60/ 53.13
Resistance: 54.52
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.