I am short bias with US OIL based on the following reason.
1, Bearish impulse resulted with a very long correction which formed a wedge pattern
2, Wedge pattern broke with an impulse and we now have a triangle pattern
Targets are based on Fibonacci retracement over the huge impulse we had between October to December.
1, Bearish impulse resulted with a very long correction which formed a wedge pattern
2, Wedge pattern broke with an impulse and we now have a triangle pattern
Targets are based on Fibonacci retracement over the huge impulse we had between October to December.
Note
TP 1 HitTrade closed: target reached
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.