LukeSeven
Short

Crude Oil 4H Chart - Closer look at the Retracement Levels

FX:USOIL   Crude Oil (WTI)
Crude Oil             is still on its way to go down to 100.40 -101.00 .If that touches and bounces off there we could see the price to move to $108.00 or even higher within couple of months or even sooner.

Every single run up within the ascending triangle has it's own retracement bounce off lvl             .

The 1st big rally started in the beginning of the January 2014 and ended almost 3 months later in the March 2014 where it retraced to 50% and then ran up again. However, bulls weren't strong enough to break through that time. So we could see and expect much bigger pull back that time but neither bears wasn't that strong to rip the price further down and the triangle formation has begun. Oil             price stopped falling down further more and bounced off at 76% Fib Retracement lvl             and rallied up again to just make another check point ( Lower high ) within the triangle. So we could all wait for couple of red candles in the red fibo area in order to confirm another price fall. In my case I could say black candles has been spotted and that's where I opened a short positions and now waiting for $100.40 - $ 101.00 to be made within couple weeks. It's going to be the area where I'm going to close my short positions and open buy positions with stop loss slightly below $100.00.

Please do not take this idea as an investment advice.

Do not hesitate to agree or disagree ...
United States
United Kingdom
India
Deutschland
España
France
Việt Nam
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Support Priority Support Report Issue Ideas Published Followers Following Private Messages Chat Sign Out