Jahir_Jack

Crude oil 4h time frame formed an H&S. looking for bearish dip.

TVC:USOIL   CFDs on WTI Crude Oil
Crude oil 4h time frame. formed an H&S . price consolidating at right shoulder forming a bull flag pattern, wait for breakout to downside and put stop above right shoulder targeting 53.92, 51.85.

Reason:
1. confluence is that price reached at 50% and 61% fib level from head to right shoulder impulsive extension.
2. confluencce 4h time frame RSI is at extrem overbouhgt zone and 2h time frame RSI making bearish divergence.


and it happend
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Jahir_Jack hussain007
@hussain007, yes, right.
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