USOIL DROP MOREUsoil drop it will approach to 61 levels the strong support liquidty wait push back the price to the upside levels
Usoiltrading
Usoil bear pressure still aliveUsoil struggling to reach support in down level let see what will be the OPIC news for the coming days in my opinion the price will drop more and more
USOIL will drop again.USOIL after drop decline from baseline to retest the supply zone i preffer to wait for the test of supply zone we will be witness a drop to the support levels.
USOIL Looking Back..OIL. Used all around the world all the time. When we saw the rally up to the 130$ Area and people were screaming to buy more.. It had to be questioned what was stopping them from being in reality..
When things raise in price, people sell. That is the nature of any market, it doesn't matter what you are trading... And we were no different calling this short for weeks and weeks.
People laughed and said.. Nope, its going so high and will never come down. Well news for ya guys, that's NOT sustainable.
If you are trading markets like this is times like this you will need to change your risk plan. you can't trade normally when market conditions are not normal.
And remember, what comes up always comes back down sooner or later.
For those trading it now, you have hit an Early Long zone / Exit zone. trade it LIGHT and RE short on a higher rise.
Outlook on WTI Crude Oil: Bearish play seenOn the weekly time frame, prices are holding below a key area at 127.80 where we could see further downside below this area. On the H4 time frame, we are seeing a shift in order flow with the break of the recent low at 112.50. A pullback to the resistance area at 114.80, in line with the 61.8% Fibonacci retracement and 100% Fibonacci extension presents an opportunity to play the drop to our next support target at 103.80. This demand area lines up with the ascending trend line, 78.6% Fibonacci retracement and 1.272% Fibonacci extension. Ichimoku cloud is showing signs of bearish pressure as well, with prices holding below the Ichimoku cloud.
USO: Springy 👟👟USO seems to have put on its extra springy sneakers as it has jumped up into the green zone between $83.54 and $87.83 quite briskly after pressing against it for some time. Now, it should finish wave B in green in this region and subsequently turn around to move downwards. On its way, USO should then drop back below $82.48 and also fall below the support lines at $67.68 and $62.92 to reach the yellow zone between $60.18 and $43.48, where wave (2) in yellow should end.
USOIL - Short Ideahello guys , short term at least Short opportunity I am seeing in USOIL , be careful with your risk / money management before getting into trade
this is not any financial advice, trade at your own risk
#USOIL - GAP CLOSE IDEAPrice respects horizontal levels nicely plus we have potential H&S continuation pattern with TP1 at 41.03 where gap from March would be closed.
Wait for breakout and apply risk management!!
Good luck!
