#usoil#commosities
Where could we go from here? SUPPORT/RESISTANCERed ~60% most likely
Increasingly bearish but crossing over more resistance lines holds more support in the down eventual down trend.
This shows some choppy trading to come.
USOIL. Monthly analysis very strong heading northFurther long possibility, we will wait if price breaks 50.48 then we can hopefully see 55.92. ( FIB level )
we will and observe let the trade co me to us.
trade safe
USOIL ::: SHORT ::: REVERSAL CALLUSOIL is expected to sink now.
There are many reason why we feel it may sink.
01. It is trying to touch Tgt 01. of quarterly short level of 29.66
02. HAMMER in daily Chart.
03. To sink and come near quarterly Tgt 01. sell level of 29.66
04. Stoch RSI (3,3,14,Close) clearly states it may sink.
05. RSI(14,CLOSE) Is also of the same view.
06. CCI(20,CLOSE) Is also sinking.
Keeping all the above indicators in view along with the chart pattern we expect it to sink. Our sell call shall be from sell bellow:31.29 with a SL @: 31.71 Tgt01: 30.06 Tgt02: 29.66 . Please bear in mind this is reversal call. Caution: The above is our personal view. Neither a recommendation nor a tip nor an advice for trade. Please consult your personal financial advisor before investing.
