Get started
ContinueFX

Daily Outlook of USOIL

CFDs on Crude Oil (WTI) (FX:USOIL)  
ContinueFX  
FX:USOIL   CFDs on Crude Oil (WTI)
Chart Patterns Wave Analysis Crude Oil WTI usoilshort dailyoutlook Technical Analysis continuefx
3
0
chartpattern waveanalysis usoil usoilshort dailyoutlook technicalanalysis continuefx
Crude Oil 4 Hour cycle is bullish against 2/11/2016 (26.05) low and 1-hour cycle is bullish against 6/21/2017 low (42.05). Oil has ended cycle from 8/1/2016 low (39.19) and currently correcting that cycle in 3, 7, or 11 swing in wave IV. As far as bounces fail below 70.44 high, expect Oil to extend lower 1 more leg before the rally resumes. We favor the downside in shorter time frame while pivot at 71.14 high stays intact.

Sell USOIL Pending Order

@69.40/75

Target: 68.00
Stop Loss: 70.00

Good Luck
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.