USOIL
Continues in this choppy descending channel that probably signals weakness to the downside.
Notice the RSI is now at a depth where previous corrective phases completed.
Could be moving on up soon 👍.
Not advice
Continues in this choppy descending channel that probably signals weakness to the downside.
Notice the RSI is now at a depth where previous corrective phases completed.
Could be moving on up soon 👍.
Not advice
Trade closed manually:
USOIL
Oil was printing a shallow channel and looking fine, but it has dumped hard and now thats a bearish engulf as shown by the curling arrow.
Now that it has engulfed, that whole area becomes a shakeout through the trendline and perhaps some moving averages etc.
Also notice it was in the retracement Golden Window.
So from here I would expect to see more downside and perhaps it will reverse at a higher time frame moving average, and there is also 2018 support below - we'll see. I have taken profit here.
Its been a nice run from wherever we got in around $72 👍.
Oil was printing a shallow channel and looking fine, but it has dumped hard and now thats a bearish engulf as shown by the curling arrow.
Now that it has engulfed, that whole area becomes a shakeout through the trendline and perhaps some moving averages etc.
Also notice it was in the retracement Golden Window.
So from here I would expect to see more downside and perhaps it will reverse at a higher time frame moving average, and there is also 2018 support below - we'll see. I have taken profit here.
Its been a nice run from wherever we got in around $72 👍.
Bull Market Group 🐂
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Priority trades, round the clock updates and a 1 hour technical video per week 😼.
Make gains, learn technicals 🚀.
$50 per month 👍🏻.
Contact: t.me/dRends35