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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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.