cajimbi
Long

Oil's Continued Rise

TVC:USOIL   WTI CRUDE OIL
wit
235 2 5
wit
Crude Oil             has been performing well over the 2016; and it seems like the rise will continue. Eyes are on $55 for the 1st target; just under $60 for target 2; and just under $70 for target 3. The wave has printed some nice supports and it seems like it has been unaffected by the recent strength of the dollar.

We're either correcting from the last huge downward move (from $110) which is hoping to hit the 0.5 fib at ~$70 ; or we're starting an impulsive wave. Regardless, it seems like the risk reward is good enough to safely long here.

Happy trading!
ShauntheSheep PRO
5 months ago
hey I think we may have some retrace
Reply
cajimbi ShauntheSheep
5 months ago
Small retraces until $53 but the market is so strong - a steady rise to target 1 is definitely possible.
Reply
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