Crude Oil - USOIL - Levels to watch at ~~
Updated
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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