USOIL USOIL Sell Now 64.19Target 1: 64.16
Target 2: 64.13
SL: 64.22
U.S. DOLLAR / WTI CRUDE OIL forum
USOIL USOIL Sell Now 64.19Target 1: 64.16
Target 2: 64.13
SL: 64.22
WTICOUSD On the 4-Hour, a new S&R Zone formed from consolidation. As the bulls rise above the S&R Zone and break the Resistance Line (in blue dotted line created by the Tweezers Top pattern to get a boost up), they can head for a breakout at the Inside Day's high of 65.007. It it's a true breakout, they can head even higher.
*Side Note:
A bullish Flag with flagpole formed earlier. Based on this with a measured move, a bullish rally can go to 65.301.
USOIL it most likely will not close above this daily bearish FVG but who knows, it is only 25c area. if it does not i would expect continuation of selling pressure till 62 or even 61, then a good rebound up to 68
WTI Boring oil chart
USOIL seems like X wave is about to finish. (blue one) if we breakout downside now, TP2 still possible.
WTICOUSD On the Hourly, a Double Inside Day pattern showed up. That usually means that we'll see a BIG move, sometime within this session.
WTICOUSD We now have a tall M-shaped pattern forming on the Hourly, as well as a descending channel. If there's a continued, bearish drop for a breakout at the low of the Inside Day at 64.006 (shown as an orange line), then they can descend even further towards 63.362.
USOIL don't get fooled here, looking like a normal pullback and C wave may still in play. we didn't hit target yet. and the target is wave 2 structure of elliot wave.
WTICOUSD Here We Go Again!After the bearish pullback, the bulls countered, forming what may be a Two Bar Reversal for the bullish trend to continue.
Take Profit Projections to the Upside:
64.672 - Start of S&R Zone
64.771 - Pivot High
64.866 - High of Inside Day for a Breakout
65.007 - Swing High & High of Inside Day on the 4-Hour Chart
67.244 - High of Inside Day on the Daily
USOIL Keep booking profits and enjoy .🍖