WeeklyTrader

USOIL came to a key level

FX:USOIL   CFDs on Crude Oil (WTI)
As we can see, AB = CD nearly complished now. Meanwhile the Elliot wave theory comes to the ABCDE-ABC now, so what's next?
Three lines break has drawn a new high. It seems that the weekly regression channel down has been broken.
Saudi claimed more reduction of oil. FOMC may not take action until December.

Support : 47$
Resistance: 49$
A buddy asked me recently, how much retracement can you take in the trade?
>_< Well, that's the problem, if I can endure more than 30%, then the profit is always on the way.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.