TunkuLuqman

TunkuLuqman

TVC:USOIL Before jump into the market. First step of market analysis is to check the trend. Using Day 1 chart. RSI entering oversold area but not yet crossing. The market also reached the support line as expected. So then there is still space to go more deeper. If market break the support line, i will consider that trend will change.

TunkuLuqman

Support line 50.41 and 49.86 Seems like the direction of the market is going down to find support line.

TunkuLuqman

Lets look to this two pattern on the chart. Ranging before drop. So today is not the best day to trade. Maybe tomorrow is the day. Patience come first. Goodluck guys!

TunkuLuqman

Chart 4H Looks like market continue dropped. Market want to find a new support line. Pre position was added.

TunkuLuqman

TVC:USOIL Watch that point. If market break the support level , surely trend will change. Still waiting for a best opportunity to enter the market. No open position, its risky dude.

TunkuLuqman

TVC:USOIL After hit the resistance line last week. Seems like the direction of the trend is looking for a new support line which is short. So focus on short. Primary trend still bullish, but this market clearly looking for a pullback. We will see. Goodluck .