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k314

CrudeOil (USOIL) study

Long
CFDs on WTI Crude Oil (TVC:USOIL)  
k314 Updated   
TVC:USOIL   CFDs on WTI Crude Oil
Trend Analysis Chart Patterns Technical Indicators Crude Oil WTI
10
2
trendanalysis chartpattern indicator usoil
CrudeOil has made a sharp fall and now we are seeing indications of consolidation and a possibility of a bounce can't be denied. Its safe to close all the short position at CMP (50+)

Above 56 conservative traders can take long position for a target towards 63-66.30 zone
Aggressive traders can take long position above 53.30
Comment:
However the major trend is down and this bounce is to be seen as a pull back and NOT trend reversal.

The long term target for crude oil is $35-$26 (conservative targets. Expecting much lower levels)

This crude oil analysis is in line with my previous analysis posted on Sep 11

Crude Oil weekly chart study
Comment:
Gap up open and a solid bounce!
Aggressive traders can take long position above 53.30
Comment:
Megaphone pattern breakout. WE can expect a good retracement.

snapshot
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