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abbhas

USOIL is at 61.8% Retracement will shoot up to 32.90$

Long
CFDs on WTI Crude Oil (TVC:USOIL)  
abbhas Updated   
TVC:USOIL   CFDs on WTI Crude Oil
Trend Analysis Chart Patterns Crude Oil WTI usoillong Crude Oil MCX mcxcrudeoil mcxcrude
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trendanalysis chartpattern usoil usoillong crudeoil mcx mcxcrudeoil mcxcrude
According to my view USOIL is at 61.8% Retracement (correction) in Daily candle closing basis. This is based on basic technical analysis with support and Resistance/Supply & demand using Fibonacci Retracement as an entry level and Fibonacci extension for target level. As per my view it will reach to 32.90$. As we know USOIL if spot price for crude oil futures in MCX so my suggestion is entry according to analysis through USOIL and targets also followed by it.

Buy @ 23.07$
Target 1 32.90$
Stoploss @ 21$ as per 1 day candle closing basis

#Happy Trading
Comment:
USOIL STOP LOSS HIT should exit from long. As per daily candle basis it closed below the retracement level. So can go for sell target is previous low 19.50$
Trade closed: stop reached
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