Simple USOIL analysis
Updated
Oil still is moving in the ascending channel.I think it will keep moving in the channel until a big Fundamental happens.Till then ,after the correction that started at the end of last week ends its a good opportunity to buy at the bottom when it bounces of the 200 EMA as it happened twice in the past (green arrow).
So I will look for a buy position at 57.76
SL 56.78 TP 61.8
R/R 4
Lets see what happens
So I will look for a buy position at 57.76
SL 56.78 TP 61.8
R/R 4
Lets see what happens
Comment
So i think a good buy position now will be 58.2 level.Right now a triple Top is forming.If it breaks 60.5 61-61.2 is a good place to open a sell or wait for a correction to buy again.Comment
its nearing 61-61.5 range lets see if it will rebound from the top treadline
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