WTI Crude Oil: Channel Up approaching the buy levels.
196 views
Oil is trading within a Channel Up on the 4H chart ( RSI = 47.620, MACD = 0.080, ADX = 19.348) with the price currently testing the Inner Higher Lows trend-line (dashed). This is technically a buy signal based on the candle action since July 10th. If that breaks we will buy on the Channel Up bottom (Higher Low trend-line) aiming at a price near the 42.50 Resistance.
If the 4H MA200 breaks though, we will book the loss and turn bearish towards the 37.50 - 37.00 Support Zone to cover the loss and add profit on top.
Our previous trade:
** If you like our free content follow our profile to get more daily ideas. **
Comments and likes are greatly appreciated.
If the 4H MA200 breaks though, we will book the loss and turn bearish towards the 37.50 - 37.00 Support Zone to cover the loss and add profit on top.
Our previous trade:
** If you like our free content follow our profile to get more daily ideas. **
Comments and likes are greatly appreciated.
High quality portfolio management, asset allocation with excellent risk management. Grow your account, achieve steady profit levels and increase your trading edge with InvestingScope (http://www.investingscope.com).
Comments