WTI Oil (USOIL) almost hit our $93 target on our last idea two weeks ago (see chart below) and yesterday reached the top (Higher Highs trend-line) of the 3-month Channel Up:
The first reaction is so far a rejection that has already taken the price to the 4H MA50 (blue trend-line). This is the first contact with it in 3 weeks but it's not a confirmed sell yet as during the previous Higher Highs run it got breached several times and still rebounded. The confirmation came when it broke below the 4H MA100 (green trend-line).
As a result, we are only willing to take a confirmed break-out sell below the 4H MA100 and target $85.00 which is the bottom (Higher Lows trend-line) of the Channel Up (-8.68% from the top).
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The first reaction is so far a rejection that has already taken the price to the 4H MA50 (blue trend-line). This is the first contact with it in 3 weeks but it's not a confirmed sell yet as during the previous Higher Highs run it got breached several times and still rebounded. The confirmation came when it broke below the 4H MA100 (green trend-line).
As a result, we are only willing to take a confirmed break-out sell below the 4H MA100 and target $85.00 which is the bottom (Higher Lows trend-line) of the Channel Up (-8.68% from the top).
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** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! **
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👑Best Signals (Forex/Crypto+70% accuracy) & Account Management (+20% profit/month on 10k accounts)
💰Free Channel t.me/tradingshotglobal
🤵Contact info@tradingshot.com t.me/tradingshot
🔥New service: next X100 crypto GEMS!
💰Free Channel t.me/tradingshotglobal
🤵Contact info@tradingshot.com t.me/tradingshot
🔥New service: next X100 crypto GEMS!
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.