Usoilbuy
💰 Wait For Green To Long Oil. (USO)🤔 Day 5, not including weekend of oils trend change.
Your key Resistance level is the green upward support that we broke. This shows potential for a new trend as the Crossover strategy has been red and the ema dots have also been red.
You will want to confirm a long position when the green align back above the new Resistance. Otherwise let it ride. This is for a longterm swing trade confirmation. Easy as that.
Best of luck, 🎲🎲
🥇MLT | MAJOR LEAGUE TRADER
First Red Since Bottom. (USOIL)🤔 We tested the 34.50 key area that I said we would look to test next in my previous oil post linked below. Check that out. I'm currently in a short for 5% from the breakout point. That rebound would of been a nice scalp play, but I'm still sitting on it. The Crossover strategy and ema dots on lower timeframes showed you the entry.
My main focus is this daily timeframe where we do see a red crossover and red ema dots.
Did have a nice rebound off the range support we were watching. From a bear standpoint we need that 34.50 to crack to move towards 31.50 next for a test. If happens then the next range to play will be 34.50 - 31.50
I like my position and not worried about the scalp. Trying to capture a larger term move.
Checkout the last post on oil below in the related ideas.
Best of luck 🎲🎲🎲
🥇MLT | MAJOR LEAGUE TRADER
Oil Go Drip! (USO)😯 Uh oh! It seems to be that oil has broke upward support.
Now it seems to be treating support as resistance.
With a potential Elliott 5 Wave completion.
Would not be surprised if it dumped.
27.58 needs to hold.
Break below 27 is a short.
Bear > Bull
Best of luck! 🎲
🥇MLT | MAJOR LEAGUE TRADER
USOIL, Best Place to open Long EntryCrash of USOIL Market is only temporary and this price cannot be rejected by any trader. The highlighted place of 10 dollars per barrel is the best historical price you can get to open a buy position for long-term. The Scalp can be targeted for 100% profit to place around 20.00 and swing trade to 300% if not even more. This trade is only AWESOME!
USOIL weekly Market overviewUSOIL each and every time gonna reach this 20 level gonna be an important support area and we had a nice bounce from that level ,I mean 20's is a very old good number we need to go back all the way toward areas around 2001 to see such a price level so that's why it was a critical area here
so BUY each and every dip toward this area because the risk and reward is amazing. we've got a nice trade on this first bounce from 20 we've got a correction and continuation now we are trading at around the 30 which is a key structure level at the moment because we have a structure
area here as far as there is no break above it. you may get one more leg to the downside otherwise if we see a break to the upside as i marked on chart then we may be going and gonna try to test previous high so then oil maybe start establishing some kind of bottom for the possible continuation. so as I said if we push higher and then keep an eye 30 level after that is the 42.50 that is the key major level that been tested there many times that got broken lately , but that depends on how the opec meeting on Wednesday gonna give us a glimpse of what to happen next.as for now the price is back above 200 moving average on 1 h time frame ,since the break below it never broke above it but now we saw that we had a break above it and correction and a continuation is on the way, so next move if we break higher keep an eye on 30 level.
USOIL Weekly ForecastUs oil is currently at a major level of support around price 52.93. I also notice that it has touched this level 3 times so I’m expecting price to at least retest the trend line on h4 Time frame. If it breaks the trend line then retests as an area of new support I will open a long position until the next major resistance area which is around 60.69.
If price breaks support then I’ll open a short position after confirmation to the next major level of support around 43.56.
USOil / WTICrude - Buy NowYes Buy now.
USOil is in over bought situation in daily time frame.
1. Bottom bollinger band giving it a support to push up
2. Couple of time tested strong support at 51.04 price
3. 50 EMA is crossing the the middle bollinger band
4. Whenever RSI hit the 33.84 level price was retrace from that level
So we have few confirmation Buy USOil
Note: Trade at your own risk.
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