OIL setting up for a Pullback.
Hey, I am back with another Technical Analysis, this time looking at something totally different, commodities!
OIL has entered support zone, where it may see likely pullback, at least to 57.
Buy around 51.5, stop loss below lowest low (49.5) so 49.36 for example.
Take profit around 57.
Risk/reward - 2.5.
MACD is setting up for an pullback, RSI way oversold, ready for some quick bounce.
Thats all from me, for now.
If you agree with this Technical Analysis , consider leaving that "Agree Button" blue, as it leads me to post more similiar Technical Analysis .
Thanks for your time and good luck trading!
OIL has entered support zone, where it may see likely pullback, at least to 57.
Buy around 51.5, stop loss below lowest low (49.5) so 49.36 for example.
Take profit around 57.
Risk/reward - 2.5.
MACD is setting up for an pullback, RSI way oversold, ready for some quick bounce.
Thats all from me, for now.
If you agree with this Technical Analysis , consider leaving that "Agree Button" blue, as it leads me to post more similiar Technical Analysis .
Thanks for your time and good luck trading!
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