Crude oil continue to go downward since last inventory report to yesterday report and OPEC denial mode of production cut, crude oil looking weak and may go further down to its support $43, risky traders may go further short, conservative traders wait for tomorrow till NFP data as better numbers can give crude some spike up to $46.
see wti crude oil have bullish divergance in rsi..... prise is goinig down and as wel rsi is up so its bullish divergance so .... its risky but if we want buy then buy with small 40 pips sl trg 100 pips....
With WTI Crude Oil breaking a Crucial trendline its time to get bullish
Also, Watchout for the Head & Shoulder Pattern Big Targets of 70+ Can be Expected in Next Year or So.
Quite Bullish if it Can Sustain above $50 for few weeks :)
Happy trading Guys Cheers !!!
CrudeOil would continue going higher till 47.30 levels where it would complete Wave A = Wave C if its a 3 Wave ABC correction and probably start correcting from around those levels and go lower.. If its a 3rd Wave then we might see CrudeOil keep going higher and test the 50 levels again. Details are on the chart.
Happy Trading!!
