USOIL - this may be knife catching but we will utilise a tight stop. This pull back however I see as necessary. The reason for taking a trade here is price has met strong support in confluence with the .62 & .705 fib and I expect a bounce. Scale into position within green box our first target is $58 with a stop at $51.57. Price may make it up to $62 but will most likely be more trades on the way up.
Timeframe: Daily
Support: (1) $54.20 and (2) $52.35
Resistance: (1) $58 and $62
Stop: $51.57
Happy Trading
Timeframe: Daily
Support: (1) $54.20 and (2) $52.35
Resistance: (1) $58 and $62
Stop: $51.57
Happy Trading
Trade closed: stop reached:
Dumped hard