USOIL The 4-Hour that is in Bearish (directional) Market Bias shows a bullish rally rising towards the Inside Day pattern's high at 60.11 for a breakout.
An Inverse Head-and-Shoulders may be forming, which means consolidation ahead, then more of a bullish rally to cross above the Bullish Trendline (in green dotted line) - flipping the market bias from bearish to bullish.
Take Profit Projections: 60.11 - High of Inside Day 62.73 - Start of S&R Zone 63.30 - High of Inside Day on the Daily Timeframe 63.66 - Swing High
WTICOUSD not for me but for someone who contacted me through messages. They are in a buy from higher up, at about 300 pips above and are asking whether they should hold or close. What are your thoughts?
USOIL On the Hourly, we have a tall Shooting Star forming. If a bullish candle shows up in the new hour, it can potentially fill the upper wick of the Shooting Star part way or in full, then head back down again, but may not go past the Market Open Line, acting predominately as a SUPPORT ZONE with 3 candles closing above the line. We'll see how it turns out in the end.
*Side Note: There's a S&R Zone above and below on the Hourly chart. And, it's looking more like a giant Head-and-Shoulders pattern.