Uscrude
Us oil is going down or not?Entry Point : 72.55-72.90
Stop Loss : 75.5
First Take profit : 65
Second Take profit : 59
Last Take Profit : 55
Convergence of bullish signsOil break out of bull flag is following through with a bullish engulfing candle today. RSI is healthy.
Majority of analysis on chart. Wave patterns added in for fun. (Not an elliot wave fan).
US CRUDE OIL - H4 SELL SETUPUS crude oil - H4 chart - I prefer shorts due to bearish structure on H4 time frame. Main trend is still bullish so this is a reversal setup on daily time frame but with-trend pull back setup on H4 so quick swing with great risk to reward.
Long levels for US oilThere is still valid weekly channel. And if AB=CD the oil will reverse in the range of 52.8 - 54.2.
OIL may see a rebound todayIt looks like OIL may rebound today we just hit a major support level at 47.04 on crude. www.mql5.com
Possible buy opportunity coming upCurrent minor bearish trend on hourly charts is probably just a minor correction in the bigger picture. If green trendline is holding, look for buy position trading opportunities (remember roll over for next monthly wtioil future contracts is in a few days though, and next it's trading lower).
