Triple Top Reversal Possible. Bearish Divergence on MFI on the daily chart, suggests a substantial downtrend on the way. Measured move $0.191 to $2.71.
So the KST indicator has crossed over and down on the hourly chart. Watching for the dip below zero, indicating downward momentum $2.84 target. I'll follow up if and when zero is breached.
Another hit on the 4 hour 20 SMA. Long Opened UGAZ 43.3. TP 48
I like this set up with a tight stop. If it fails, then short is the way to go.
This was too sweet to ignore.
14% measured move.
STOCH RSI overbought
50 SMA crossing down over 200 SMA
Each flag is approximately 30 days apart. The last one is right on time.
Starting to think OIL is beginning a new trading channel.