Us Oil is in Daily Resistance after a breakout towards upwards it stared to give correction .Either it will be sideways for somedays otherwise it will reach upto 66 region in the daily breakout for retest then it will strated to push up
Price breaks the trend line strong and trying to break the first resistance to reach the second one which is seen more stronger than its counterpart.
As if now things looking good for those who took long position well before, for the new entries wait for the price to break and close above the first resistance for the target of second.
Price moving inside a small box after the big up movement, in other words price is getting ready for a big movement when it breaks the box.
Price now reached the bottom of the box and one can expect the price to break the trend line and reach the top of the box.
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Price gently rejecting from the trend line for a long period of time and now the price will reach the trend line to make or break !!!
Traders can have a better look when it reaches the trend line, as if now you know what to do positionally !!!
Price forming symmetric triangle and trading at the support levels, if you find reversal pattern then go long else wait for close above 39.25 and go long and your target will be the top trend line or even you can wait for the breakout till $ 42.
Price rejecting from $ 40.50 continuously and at the same time price is making higher low which shows the bullishness in this script. Required pressure is building up by squeezing the price and also it is reaching the breaking point.
If breaks 40.50 then 41.50 should be the target and the ultimate target for this break should be $ 42.
I hope you can now see how USOIL represents an excellent low risk profit entry setup allowing you to trade in the market.Take positions so that the risk/reward is in your favor.
Knowing why, where & when a strong reversal signal is being generated will be the only way to capitalize on your technical analysis .
Disclaimer: It should not be assumed that the...
Price after the triangle breakout now forming flat bottom raising trend line pattern and currently trading near the bottom support.
In lower time frame it is a channel pattern and inside it is forming a triangle. AS this platform is not allowing to post all the time frame analysis in single post I will post it in comment section.
Price trading inside a box which is $ 1 range. Now making symmetric triangle pattern and it might break on either side.
Wait for the box breakout and enter the trade accordingly. If you are an aggressive trader then enter the market when price takes support from the symmetric triangle.