Rob.Reynolds
Long

Crude Oil potential Long from $41.30

TVC:USOIL   WTI CRUDE OIL
64 1 2
My fundamental/macro view would see BoJ follow ECB into a tighter monetary policy. If that is the case come Friday 21st irrespective of a rate hike USD should sell off repeating the rate hike in December 2015.

With that expectations the crude oil             chart looks as follows to me. Price is compressed inside a symmetrical triangle. There is a bullish gartley on the 4h chart with a target $41.30. That moves quickly into the C-D leg of the bearish butterfly targeting $61. A breakout of the triangle would also reinforce that target!
Rob.Reynolds
2 months ago
My full view is here; https://theaffluenttrade.wordpress.com/2016/09/18/the-light-shines-at-the-end-of-the-tunnel/
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out