TradingShot

WTI OIL Two break-out buy signals

Long
TVC:USOIL   CFDs on WTI Crude Oil
11 days ago we took the best possible sell entry we could have as we shorted the exact top, calling for the best sell opportunity since December:


Right now the price is on a strong rebound, slightly higher than Support 1 (73.25) but with the 1D RSI on a confirmed reversal within its range. If you missed the bottom buy opportunity, wait for a 4H candle closing above the 4H MA50 (blue trend-line) as this was a confirmed buy opportunity on all previous three occasions (circles). First target at 78.50 and if the price closes above the Lower Highs (dashed) trend-line, we will re-buy targeting 80.00.


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