WTI Crude Oil - updated entry
The USOil is now finding a strong support level under the previous demand area $51.
Already creating a double bottom formation, we now expect a break upwards.
The uptrend should start to form now with prices bouncing above the 50-100 EMA's.
On the retest of the $ 52 level, we can put our pending buy orders. The target is $ 59. We might close part of positions at the 200 EMA. We will monitor price action and update the idea as usual.
Traders, If you find this complete analysis on point, please subscribe for more free market analysis to come.
Already creating a double bottom formation, we now expect a break upwards.
The uptrend should start to form now with prices bouncing above the 50-100 EMA's.
On the retest of the $ 52 level, we can put our pending buy orders. The target is $ 59. We might close part of positions at the 200 EMA. We will monitor price action and update the idea as usual.
Traders, If you find this complete analysis on point, please subscribe for more free market analysis to come.
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Price approaching our entry areaTrade active
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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.