MoneyFlowTrader

3 drives pattern formed inside the multi triangles

MoneyFlowTrader Updated   
TVC:USOIL   CFDs on WTI Crude Oil
5
Interesting that that a 3 drives pattern formed inside the 3 triangles. I'll have to remember & look for this next time. I have the Daily resistances of $50.93 and the .618 fib at $50.34 if moving avg continue to move up there is a possibility of oil hitting $53-$52.00 Monday-Tues opening, the market is trading as if its pricing in Opec Cut. I only have 1/4 position regardless and will continue to study these triangles. The 4hr chart also showed a cross of 18/200 which i've been monitoring and studying on multiple time frames for continuation purposes.
Comment:
If momentum continues on to the daily, $52.50 is a possibility . I'm curious to see if $52.50 - $53.00 offers a short or oil goes full bull flag on watch for next week

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.