WTI Oil (USOIL) is rebounding just above Support 1, similar to the May 06 Low, with both rebounds taking place after an oversold 4H RSI (green circles) as well.
As long as Support 1 holds, target $101.00 (just below the 0.786 Fibonacci and the Lower Highs trend-line). If Support 1 breaks, cover and target $80.00 (just above Support 2).
Notice how every 4H RSI oversold (<30.00) bounce led to a strong rebound.
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As long as Support 1 holds, target $101.00 (just below the 0.786 Fibonacci and the Lower Highs trend-line). If Support 1 breaks, cover and target $80.00 (just above Support 2).
Notice how every 4H RSI oversold (<30.00) bounce led to a strong rebound.
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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! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. **
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I trade Crypto, Forex, Indices & Commodities on PrimeXBT — all from one account with TradingView charts 👉 tradingshot.short.gy/PrimeXBT
I also use TradeNation for fixed spreads & zero commission 👉 tradingshot.short.gy/Tradenation
I also use TradeNation for fixed spreads & zero commission 👉 tradingshot.short.gy/Tradenation
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.