USOIL Don't forget about TACO Wednesday 👨🦰WTI Light Crude Oil forum
USOIL Don't forget about TACO Wednesday 👨🦰
WTI if just a flag. time to fall
OIL_CRUDE Brent drifting to $60 scenario:Sahdev mentions Brent could drift to $60 when demand softens (likely post-August).
If you’re positioned for Q3-Q4 weakness, this could still play out in your favor.
USOIL Don't add cargo to the parabolic choo-choo until it's over the hill.
USOIL The bullish rally is in Overbought territory, so a retrace to the downside is coming.For the retrace, the bears can drop down towards the high of the Inside Day at 68.28 that's a shallow retracement. For a deeper one, the bears can head for 67.87 through Mean Reversion.
The bulls can rise back up again after a retrace because the Hourly is still in Bullish (directional) Market Bias.
*Side Note:
The Outside Day that formed earlier revealed that at the end of this bullish rally, we'll see an immediate retrace.
USOIL Still holdin' from the bottom support, considering about another long position after proper confirmation
WTI big drop coming?
USOIL Why do I feel like there is gonna be a correction soon to 66.8 level!USOIL *For Swing Traders: Switching to the Daily, the bull run is doing a breakout at the high of the Inside Day at 67.70 (shown as an orange, horizontal line). I have a take profit of 70.09, based on a measured move by a previous bull run.
*Side Note:
We have another Three Methods Rising on the chart that tells us of a continuation of the bullish thrust.
USOIL crude three months views 😁 88-103-122-136-156$