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cheminacci

Bullish Shark Pattern Sets Up Low Risk Entry On OIL

Long
CFDs on WTI Crude Oil (TVC:USOIL)  
cheminacci Updated   
TVC:USOIL   CFDs on WTI Crude Oil
Harmonic Patterns Chart Patterns cheminacci Crude Oil WTI Oil
7
0
harmonicpatterns chartpattern cheminacci usoil oil
A bullish shark pattern is setting up on oil with a potential reversal zone centered around 20.00. This entry comes on a retest of the lows on oil, with the RSI gradually becoming oversold, and provides a great setup for a low risk long term buy on oil. We are unsure if this is the true bottom for oil, but this pattern presents a great trade opportunity. Entries near 20.40, Stops below structure, with Target 1 at 24.00.
Comment:
Market has entered the potential reversal zone

snapshot
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