tradingdiaries

Oil right shoulder and breakout

FX:USOIL   CFDs on Crude Oil (WTI)
This looks like a head and shoulder formation.

Stop: Above the right shoulder.
Targets:

First at the neckline.
Second at $25

$25 is the next strong support on the way down. It holds back in 2003 and two times as a resistance in 1996.

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.