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 68West Texas Oil forum
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 .🍖USOIL sell the pullbacks
WTICOUSD On the Hourly, if the bulls reject a breakout from the high of the Inside Day, then the bears can do a bearish pullback towards 64.162 (through mean reversion). We'll see if it drops more, then go back up because the Hourly is still in Bullish (directional) Market Bias.