USOIL. Targeting a rebound and, eventually, a mid-term run

I believe USOIl will hit 42 ish next week and that will mark a beginning of a nice bullish run. Eventually, we will not target only 47 ish which is the TP2 for a Cypher pattern but go beyong 52.

The red line at 52 is a historical trend line which comes from the 90s. As you can see, market watches it closely so it acts as an important separation level between bulls and bears. We keep on bear terrotiry but hopefully, it will start changing next week and be like this for some months in front.

Long entry: 4*0.25 lots at 42.25
SL: 40.50 (below July low)
TP1: 44
TP2: 47

TP3: ???

Comment:

Target hasn´t been hit yet, I expect a new and final wave down after this correction ends

Trade active:

Long USOIL 2*0.25 lots. SL: 40,40 TP1: 44. TP2: 47

Comment:

Already 1% up, long moved to breakeven

Comment:

Posting below amended targets for the pattern, with TP1 already hit

Trade closed: target reached:

TP2 hit. It can go higher but I´m completely fine with this profit