usoillong

Crude Oil H4 time frame- I prefer longs on oil due to the simple bullish structure on all timeframes targets 54

US crude oil longs in play - In my view, the weekly bearish trend is broken and the daily trend is now in a bullish structure. I see oil reaching 50s before stopping for another pull back then rallying again to 52s.

Validated confluences 1.Daily Trend-line broken (uptrend) 2.Resistance broken support valid 3.Profit margin 1:4 4.Price action low on the curve

Price has rebounded off the range which has been established since March, at the same time RSI gave us a bullish signal by briefly dropping below 30 before heading back up.

FX:USOIL Major Shark completion point: https://uk.tradingview.com/x/vLWwb845/ http://uk.tradingview.com/chart/EURUSD/T3D391Dj-The-Three-Drives-Pattern-Educational/ https://uk.tradingview.com/chart/EURUSD/ZOzp9b8D-The-Shark-Pattern-Engagement-Rules-Educational/