It is not a hyperbole. The WTI Oil (USOIL) market has been under historically extreme levels of volatility ever since the U.S. - Iran war started 1 month ago. Naturally, the market is predominantly driven by news and amidst the chaos, one technical pattern emerges.
That is this Channel Up on the 4H time-frame, which just hit its top (Higher Highs trend-line). The current Bullish Leg is almost the same (+37%) as the previous one (+34.34%). The 4H MACD is close to a Bearish Cross, which has always been a sell confirmation.
The last Bearish Leg corrected to its 0.618 Fibonacci retracement level and the 4H MA100 (green trend-line). As a result (and of course as long as the pattern doesn't break), we expect to see a technical correction to at least $104.00, with a possible extension to $100.00.
---
** 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. **
---
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
💸💸💸💸💸💸
👇 👇 👇 👇 👇 👇
That is this Channel Up on the 4H time-frame, which just hit its top (Higher Highs trend-line). The current Bullish Leg is almost the same (+37%) as the previous one (+34.34%). The 4H MACD is close to a Bearish Cross, which has always been a sell confirmation.
The last Bearish Leg corrected to its 0.618 Fibonacci retracement level and the 4H MA100 (green trend-line). As a result (and of course as long as the pattern doesn't break), we expect to see a technical correction to at least $104.00, with a possible extension to $100.00.
---
** 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. **
---
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
💸💸💸💸💸💸
👇 👇 👇 👇 👇 👇
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
免責事項
これらの情報および投稿は、TradingViewが提供または承認する金融、投資、取引、またはその他の種類の助言もしくは推奨であることを意図したものではなく、またこれらに該当するものでもありません。詳細は利用規約をご覧ください。
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
免責事項
これらの情報および投稿は、TradingViewが提供または承認する金融、投資、取引、またはその他の種類の助言もしくは推奨であることを意図したものではなく、またこれらに該当するものでもありません。詳細は利用規約をご覧ください。