overall downtrend .... this is short time long trend .... RSI divergence in 2 hour chart
Trend Line reversal cum Hammer in 1 hr confirmed by green candle, buy btw 58.90-59.30 hold for 1 week target of 63.10.. stoploss point 58.20 on day closing..
TVC:USOIL ...Hmmm... Now Short, Then Long . . .
Crude Oil positional short good at 63.55 Level and target 1 = 60.88, then target 2 = 59.40, strict stoploss of 64.70.
Crude is favored ended correcting the cycle up from the 12/24/2018 lows at 50.99 on 10/3/19. The 4 hour is turning up from there. Ideally while a pullback remains above the 60.62 lows where the hourly right side is up it can see the 66.00 area in wave (1) cycle from the 10/3/19 lows.
US OIL Trading View: Current Price at 62.48 on Hourly Chart near the Support Zone. Price action at support is interesting to see for the next move towards new high 65 or back to the trendline support around 61.30 Bulls will get active above 63.06 Bears will get active below 62.29
WTI Crude oil might test the resistance of the red line in the chart. The 80 level. The low of 55 is important
Crude Oil at resistance on daily chart- $60.3. Positional Short with Stop loss $60.9 for targets of $57 - $55 Happy Trading! Cheers.
TVC:USOIL 1) Possibility of short-term downtrend to continue. 2) Price closed below the bullish trend line on daily candle. 3) Possible breakdown of 57.42 level on fibonacci. 4) Stochastic cross over with bearish direction. Setup: Entry = 60.35 SL= 61.55 TP1= 58.90 TP2= 57.5
RSI divergence in us oil .....ready for fall... Refer chart ...
weekly triangle breaked and taking support on previous week's resistance so up move expected..... target 1 is $61 target 2 is $64 stop loss 54.90