WTI Oil (USOIL) has been trading within a 3-month Channel Down with the price experiencing successive rejection on the 1D MA50 (blue trend-line) since the October 24 Lower High.
Given that the 0.5 Fibonacci retracement level was also filled (as on the previous Lower High), we expect this inability to break above, to kickstart the new Bearish Leg.
As previously, the Target is the Support at $56.00.
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Given that the 0.5 Fibonacci retracement level was also filled (as on the previous Lower High), we expect this inability to break above, to kickstart the new Bearish Leg.
As previously, the Target is the Support at $56.00.
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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.