enzo

OIL - Potential Inverted HS Pattern Forming

FX:USOIL   CFDs on Crude Oil (WTI)
This is an informational note on the weekly outlook only (no pattern has been confirmed yet)

Looking at the Weekly chart, a potential inverted HS pattern could be on it's way. Don't be shocked if oil             falls all the way to approximately 37.73 (TP1) over the next couple of weeks. If it finds support there or anywhere above there, then watch for a rise to approximately 50.90 (TP2).

If it reaches TP2, the pattern is confirmed and you should enter a long position from here for a high probability trade. You could enter a long at or around TP1 if you want but there is no confirmation at this point and the risk is much higher. Use a stop but keep in mind the next point of major support is all the way down at 33.

Summary: Down and then up in the next 8 weeks

TP1: ~37.73
TP2: ~50.90
TP3: ~56.00

GLTA!
very nice
Reply
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out