goodguy

Crude oil seems to be braking out of triangle consolidation.

Long
FX:USOIL   CFDs on Crude Oil (WTI)
Point .e of the triangle went a little lower than I expected but stayed >.c to complete I believe a 5 wave triangle as can occur as a "b" wave correction. Iffffff the c wave = the a wave then price would move to about the top of the target box. IF c would equal .62 x a then it would go to the lower end of the box. Stop if <.e (56.81). Notice the short term RSI is overbought so we may get a pullback to allow a better entry point if not already long. Take care. Goodguy.
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.