CFDs on Crude Oil (WTI)Updated Looking for a fake break of $58 on USOIL
Recently, USOIL was seemingly struggling with reaching above 60. Now what I am hoping to see is a fake break of $58, indicating that we still have enough bullish momentum. If we find a fake break of $58, we could easily see a retracement to $60 levels, and possibly even $62,50 and $65 in the long run. Breaking below $58 would signal more bearish momentum.
Note
Unfortunately, bullish momentum increased only slightly above the $58 levels. It sucks when you miss an entry because of this, but on the other hand it also showcases that there still is enough bullish momentum. Once we see a break above $60, we can safely open a (semi-) long-term entry near the $60 level after a pull-backNote
Situation is very bullish right now. Really trying to see a break above the 60$ level. Currently, I am looking in buying dips around the 200 day EMA. As long as we don't drop below that, we are pretty golden and could see levels of $62.5 and $65, respectively.
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