Hellena | Oil (4H): Long to resistance area of 87.47.

TVC:USOIL   CFDs on WTI Crude Oil
Dear Colleagues, at the moment the price has made a strong downward movement. I suppose that the price is in wave "4" and can continue its movement to the support area of 80.22, but I consider only long positions, because the price can make a reversal at once. I recommend to work with pending orders.
The nearest target is the resistance area at 87.47.

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Colleagues, the price has sharply started an upward movement and I expect a correction, after which the upward movement will continue.
Since the price has passed quite a large number of points, I recommend to set trade to breakeven.
(Breakeven=Risk Free: Move Stop loss to the entry level).
Dear Colleagues, in the coming week I expect a renewed upward movement towards the target of 87.47. Last week's strong movement was due to the strong news background and I think that the level of 85.55 will be tested again.
Colleagues, still waiting for confirmation of the upward movement. To do this, the price needs to reach the local high of 85.55. So far there is a probability of reaching the area of 80.22. We may see a double zig-zag.
Colleagues, at the end of the week the price continued its upward movement, but the level of 85.55 was not updated, which means that there is a risk of updating the low of wave “4”. In this regard, I recommend to set trade to breakeven.
(Breakeven=Risk Free: Move Stop loss to the entry level).
Colleagues, there is a great possibility of a price reversal in the coming week to give us a chance to go long again. In this regard, I recommend closing some of the open positions at the beginning of the trading week.

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