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
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I also use TradeNation for fixed spreads & zero commission 👉 tradingshot.short.gy/Tradenation
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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
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.