WTI OIL Buy Signal

FX:USOIL   CFDs on Crude Oil (WTI)
Pattern: 1D Channel Up.

Signal: Bullish as group of parameters is fulfilled: 1. Reached the Higher Low of the pattern, 2. Made contact with the 1D MA50, 3. Hit the 1.3 Fibonacci retracement level after the Iran attacks, 4. The RSI is on a 3 month support level .

Target: 64.00 (Higher High trend line of the pattern) and in extension (depending on the geopolitics at the time) 66.00 (just below the 1W Resistance).

See how accurate this pattern with Supports and symmetrical Resistance levels has been in the past:

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