NYNick

Potential Long for Oil - read the description

Long
FX:USOIL   CFDs on Crude Oil (WTI)
we have entered a correction to the current Bear move. and though I am not trading Light, but this is what I see - we had pierced trough the strong support level (green rectangle ) on a third touch (a bit early)and should test it once again to "ensure" it holds. and if it does we may see 56-abouts (yellow) or even 57.5-58 (red) for light
Comment: we have got to the bottom of green level, good place to long with a short stop
https://s3.amazonaws.com/tradingview/sna...
Trade active: The green level had held the selling pressure - should see more long in Light towards yellow (likely to be cut straight through it) and red
Trade active: we are just before the breakout!
Trade active: as was expected - we had cut through the yellow level
Trade active: Need to return to 55.3 abouts for further climbing up, potentially on API -EIA statistics
Trade active: the Red level was touched! - this means to me that the idea is completed!a
at the same time, as API data was released we had started moving towards the lower bound of the yellow level (55.3), depending on the EU action it might be tested during EIA and leaving there a 2h shadow or, cause more of a slow testing with subsequent return for further price movement to the North
Trade active: we have entered the yellow zone, should go to the lower end of it
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