Long

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

Last week (August 20, see chart below) we issued a bullish break-out signal on WTI Oil (USOIL) that reached our $65.60 Target within 3 days:

WTI OIL Buy signal if the 4H MA50 breaks.

This time we get a new buy signal, despite today's sharp pull-back. The -12.78% decline since the July 30 rejection, resembles the one since the October 08 2024 High.

This rebounded to just above the 1D MA50 (blue trend-line) to form a new Lower High and get rejected again.

As a result, our immediate short-term Target is $66.30.

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