WTI OIL Short-term Channel Up 4H MA50 buy opportunity.

Last week (August 26, see chart below) we caught the absolute low with our WTI Oil (USOIL) buy signal, hitting our $66.30 Target shortly after:

WTI OIL technically more chances to test the 1D MA50. Buy.

This time we have another buy signal on the short-term as the Channel Up that emerged has pulled-back all the way to its 4H MA50 (blue trend-line).

The last 3 times it did so, it was a buy opportunity. Assuming this is another Higher Low bottom, the new Bullish Leg that is about to be initiated, should aim for the 1.382 Fibonacci extension, similar to what the previous two did.

This gives us a $66.75 Target for the short-term.

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