WTI Crude Oil / USOIL is trading inside a Channel Down for almost 2 months.
The recent Lower Low on its bottom is so far replicating the previous one on October 6th.
Today's sudden decline made a symmetric pull-back as on October 12th.
This is the final short term buy opportunity before the price approaches the top of the Channel and the 4hour MA200.
A crossing over the 4hour MA50 will confirm the buy.
Target 79.50, which is under Resistance A, like the Lower High of October 20th.
Previous chart:
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The recent Lower Low on its bottom is so far replicating the previous one on October 6th.
Today's sudden decline made a symmetric pull-back as on October 12th.
This is the final short term buy opportunity before the price approaches the top of the Channel and the 4hour MA200.
A crossing over the 4hour MA50 will confirm the buy.
Target 79.50, which is under Resistance A, like the Lower High of October 20th.
Previous chart:
Follow us, like the idea and leave a comment below!!
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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.
TheCryptagon offers news & insights on global markets (crypto, forex, stocks, commodities). Follow so you don't miss anything!
🤑Message us for private forex & crypto signals in our VIP channel (70% accuracy)!💰
TELEGRAM: t.me/thecryptagon
🤑Message us for private forex & crypto signals in our VIP channel (70% accuracy)!💰
TELEGRAM: t.me/thecryptagon
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.