InvestingScope

WTI Oil: Target hit. Switching to buying.

Long
FX:USOIL   CFDs on Crude Oil (WTI)
TP = 60.20 hit as the 1D Channel Down (Highs/Lows = -1.9164, MACD = -2.510, B/ BP = -4.6080) extended to a 59.20 Lower Low. The chart (1D) is now oversold ( RSI = 25.241) and since the price hit the 58.20 - 60.20 Monthly support zone , we expect a gradual rebound (timed after this week's Inventories). The key point to break is 61.90 and our long's TP = 64.00.



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