For those who have been following me for years, you know how much I like to trade oil and potential pips that it's able to provide when you catch a move.
At this point in time, USOIL still requires a little bit more patience.
The daily chart is in a zone between 40.25 - 41.00
On the intraday's price is still creating higher lows, but struggles to close above 41.00
I'm waiting for USOIL to break down from these levels and looking to get in on a 4 hr break and retest of the 50 ema., potentially rejecting 40.25 as resistance
Once that happens we could see price reach daily low levels around 36.00 or lower to even 34.00 area.
But first we need price to break down and begin lining up for an entry...
I'll post updates once/if anything happens.
Let me know if you share similar thoughts, or what you see USOIL potentially doing.
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** DISCLAIMER* The content on this analysis is subject to change at any time without notice and is provided for the sole purpose of assisting individuals to make independent trading decisions. Trading can be risky, make sure to use proper risk management!!
The analysis given out reflects my personal ideas and does not mean I personally take the trade, my preferred entry may never actually present itself.
__________________________________
At this point in time, USOIL still requires a little bit more patience.
The daily chart is in a zone between 40.25 - 41.00
On the intraday's price is still creating higher lows, but struggles to close above 41.00
I'm waiting for USOIL to break down from these levels and looking to get in on a 4 hr break and retest of the 50 ema., potentially rejecting 40.25 as resistance
Once that happens we could see price reach daily low levels around 36.00 or lower to even 34.00 area.
But first we need price to break down and begin lining up for an entry...
I'll post updates once/if anything happens.
Let me know if you share similar thoughts, or what you see USOIL potentially doing.
___________________________________
** DISCLAIMER* The content on this analysis is subject to change at any time without notice and is provided for the sole purpose of assisting individuals to make independent trading decisions. Trading can be risky, make sure to use proper risk management!!
The analysis given out reflects my personal ideas and does not mean I personally take the trade, my preferred entry may never actually present itself.
__________________________________