TVC:USOIL   CFDs on WTI Crude Oil
USOIL (1D) has formed a butterfly pattern and I would expect a downtrend in the price to follow, this theory is also supported by a change in MACD . There will be a test on this trend at around 49 (fib 0.786) which forms point B in the pattern. There will be a further test along the barrier indicated in green which the price is reached, which I would expect to be at fib 0.618, around 47. If this is broken I would look for a further decline to 42.72 which has been a previous S/R level


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.