Crude Oil 4 Hour cycle is bullish against 2/11/2016 (26.05) low and 1-hour cycle is bullish against 6/21/2017 low (42.05). Oil has ended cycle from 8/1/2016 low (39.19) and currently correcting that cycle in 3, 7, or 11 swing in wave IV. As far as bounces fail below 70.44 high, expect Oil to extend lower 1 more leg before the rally resumes. We favor the downside in shorter time frame while pivot at 71.14 high stays intact.
Sell USOIL
@69.45/69.75
Target: 68.00
Stop Loss:70.00
Good luck!
Sell USOIL
@69.45/69.75
Target: 68.00
Stop Loss:70.00
Good luck!
Operación cerrada: objetivo alcanzado
@175 pips profit
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Exención de responsabilidad
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.