USOIL showing Gartley pattern is completed and this is maybe the last chance to rebound before breaking the trend line support..
USOIL Currently on a good support area the up trend line & 78.6 Fibo. also we are waiting for AB=CD pattern which is can lead crude oil to the new high.
This is not right time to buy Oil ..
USO progressing ABCD pattern inside Gartley pattern
USOIL With flag pattern, if it is hit the target that will be a good profit, it is around $6 GOOD LUCK.
All given data showing that EURUSD at support area, moreover there is a butterfly pattern on the way.
Good chance if it is still moving above the trend line
Oil can be EXPECTED short with targets shown ...
This is will not distract the previous idea (SHORT USOIL).. this idea can be long for short period but it is risky to wait Cypher pattern to complete. Then sell again. Just wait till break the down trend line.
I don't know why... but its look like going to the target (new high) !!
If you look to the middle east situations (the war in Syria and Iran nuclear deal) you will think the Oi price could be reach to $100 ... but the technical analysis in our chart showing this pattern has been completed and the price may go down again... this is at the weekly chart thats mean should take some time to reach the target... ($76 kill this pattern)
In 4 hours frame USOIL can go down with two indications, head & shoulders and broken of trend line !!
USOIL can be in Butterfly pattern, waiting the confirmation after head & shoulder broken complete.
Long term chart showing that UKOIL can go down in couples weeks.
USOIL in revirsal area... this area can force on Oil to go down suddenly an strongly
USOIL can be in ABCD pattern as it is completed and the next target could be the resistance of the trend line
Still I'm not agree to go long with crude oil so any reasons outside the OPEC!!