TVC:USOIL ...Hmmm... Now Short, Then Long . . .
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.
An Extended Flat taking highs and lows.. one big fall expected and then a big rise...
Crude Oil has formed inverted head and shoulders a breakout can be expected above $49.5 T1: $51 T2: $53.5 T3: $55 T4: $57 SL: $47
Descending Channel on USOIL and the price will move up, once the pattern get breakout. Trade: Buy above - 49.20 Target 1 - 51.50 Target 2 - 53.85 Stop loss - 47.10
Cup pattern formation on USOIL and it leads to break upside. Trade: Buy Zone - 46.15 to 46.30 Target Zone - 46.95 to 47.10 Stop Loss Zone - 45.79 to 45.60