Usoilanalysis
USOIL Short 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 methods, techniques, or indicators presented in these chart will be profitable or that they will not result in losses. There is no assurance that the strategies and methods presented will be successful for you. Past results are not necessarily indicative of future results. You should not trade with money that you cannot afford to lose. Examples presented in these products are for educational purposes only and it should not be assumed that these are indicative of ordinary trades. These setups are not solicitations of any order to buy or sell. The publisher assume no responsibility for your trading results. There is a high degree of risk in trading.
$ 40.50 resistance is the key for USOIL.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.
Flat bottom - Price on support.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.
$ 1 trading range for the few days.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.
USOIL ASIA TRADE SETUPTechnical Analysis- The 4 hour is down against 1/08/2020 peak (63.87). 1 hour is turning down. However, while near-term dips remain above 6.59 low expect OIL to extend higher to correct the cycle from 1/08/2020 peak in 3, 7 or 11 swings before downside resume. We prefer selling the bounces in 3, 7 or 11 swings at the extreme areas.
Sell USOIL
@26.10-40
TP: 25.00
Tp2: 23.00
SL: 27.00
Good luck !
USOIL (CRUDE OIL) Weekly Forecast he weekly is turning up. The daily right side is down against the 76.96 highs from 10/3/18. The 4 hour right side is down against 65.78. While below the 4/3/20 highs where the hourly is turning down it can see weakness toward the 16.00 area before correcting the cycle from the 4/23/19 highs.
CRUDE OIL TO CONTINUE LOWER TO COMPLETE ITS FINAL LEG DOWNCrude Oil is left with some more beating
Trade Plan 1
Short sell for immediate target of $21.76
Continuing its downward move which should conclude near $21.76 if EOW ((C))
and
Trade Plan 2(will be active only after trade plan 1 reached target)
Short sell for deeper target of $9.83
EOW 3 of Y around same level of $9.83 of cycle wave
We can see sharp reversals from the levels mentioned
Happy Trading Respect Risk
View are for EDUCATIONAL PURPOSE ONLY ....Trade at your own risk
USOIl Trade of the day 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.






















