USOILTrade Idea
Looking to set longs on a pull-back to support ($56.00) for a more sustained up move towards 2019 highs.
Descending triangle has broken higher
Double bottom formation has formed
Price action above Ichimoku cloud
Middle East tension on back of attacks on Saudi oil facilities - Iran being blamed
Expecting further build of tension and possible repercussions following attack
Could escalate further causing prices to rise
Stop would be placed below $52.50
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.