InvestingScope
Long

Second target hit. Important break out test. Still bullish.

FX:USOIL   CFDs on Crude Oil (WTI)
TP = 72.86 hit as the 4H Channel Up ( RSI = 69.155, MACD = 0.640, Highs/Lows = 0.5343, B/BP = 0.9780) made a 73.70 Higher High. We are now on crossroads for 4H and 1D as the two Channel Up patterns face a bullish break out potential. The 1D Channel Up ( RSI = 67.240, Highs/Lows = 1.5321) is on a very steady bullish pace but currently limited to a 74.30 Higher High. If that breaks, then 1D aggressively break to the upside towards 77.60 within the 4H Channel Up. If not then we will either pull back to 72.30 (4H Higher Low) or 70.35 (1D Higher Low) before USOIL pursues 77.60. If the price breaks out, our TP will be 77.60 if it pulls back, we will enter on both Lows with TP = 74.30.
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