USOIL caped in a triangle for now. Overall it's trading sideways.
ways to trade Crude Oil:
1.) Trade the triangle formation with tight s/l above the highs / lows
2.) Wait for a breakout of the triangle with a s/l below the breakout in case it's a fake out.
Overall we could go a bit higher but as long as the OPEC is not cutting their oil production don't expect a bullish trend to really develop for USOIL.
ways to trade Crude Oil:
1.) Trade the triangle formation with tight s/l above the highs / lows
2.) Wait for a breakout of the triangle with a s/l below the breakout in case it's a fake out.
Overall we could go a bit higher but as long as the OPEC is not cutting their oil production don't expect a bullish trend to really develop for USOIL.
Note
Oil triangle break down again. Already making new lows. Took partially profits at 27.50$. looking for the medialine for the next profit taking target.
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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.
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.