TradingShot

USOIL (WTI) Previous Resistance turning Support?

Long
TVC:USOIL   CFDs on WTI Crude Oil
We all know WTI oil is bullish . It has been so since the violent bottom last December. The question is where it is better to buy?

Two scenarios:

1. The former Higher High Resistance (red line) has become a Support and the 1D Channel Up breaks aggressively upwards. So far it has provided support twice.

2. The 1D Channel Up pulls back and makes a Higher Low near the inner Higher Low Support (green line).

In both cases my TP is 65.00.

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