WTI CRUDE OIL Buy signal under the 4hour MA50

WTI Crude Oil / USOIL is trading inside a Channel Down for almost 2 months.

The recent Lower Low on its bottom is so far replicating the previous one on October 6th.

Today's sudden decline made a symmetric pull-back as on October 12th.

This is the final short term buy opportunity before the price approaches the top of the Channel and the 4hour MA200.

A crossing over the 4hour MA50 will confirm the buy.

Target 79.50, which is under Resistance A, like the Lower High of October 20th.

Previous chart:

WTI CRUDE OIL Buy on this Falling Support. Sell below.


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Chart PatternsCrude Oil Futures WTI (CL1!)CommoditiesEnergy CommoditiesTechnical IndicatorsOilTrend AnalysisCrude Oil WTIWTIwtioil

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