InvestingScope

WTI Oil: Ranged for the next 2 years.

TVC:USOIL   CFDs on WTI Crude Oil
We have been focusing a lot on Oil's short term price fluctuations under a highly unstable environment. This High Volatility may be simply technically caused by the commodity's long term cycles, phases that tend to repeat over time.

As you see on the chart the price is currently within a long term consolidation phase, similarly to what it did from mid 2011 to mid 2014. There are high chances of repeating and completing this phase again. The fact that the monthly chart remains neutral ( RSI = 45.100, ADX = 18.497, MACD = 0.310, Highs/Lows = -0.7850) generally supports this idea that there is no trend at the moment on the long run.

This is an idea we brought forward almost 1 year ago, of course with some deviations to the actual price action:



The purpose of this is to give an idea to long term traders where they can buy, hold and eventually take profit over the next 2 years.





** If you like our free content follow our profile (https://www.tradingview.com/u/InvestingS...) 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).
I have same view check my analysis

+1 Reply
InvestingScope DaweFXHunter
@DaweFXHunter, Not exactly the same but thank you for taking the effort to share it with us.
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Help Center Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing TradingView Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out