USOIL - Are we going up?
Updated
Going to see how the day closes before taking any trade but here my thoughts
Technicals
→ Price respected .618 FIB retracement
→ We broke out of channel and retested it
→ Monthly candle will close semi-high probability we're going up to create at least a top monthly wick.
Fundamentals
→ Important next week is OPEC+ meeting 2nd June.
Trade
→ For intraday/swingers long opportunity to go up for about 1:3R
→ For scalpers good buy opportunities 20 pips at a time when price goes up.
Technicals
→ Price respected .618 FIB retracement
→ We broke out of channel and retested it
→ Monthly candle will close semi-high probability we're going up to create at least a top monthly wick.
Fundamentals
→ Important next week is OPEC+ meeting 2nd June.
Trade
→ For intraday/swingers long opportunity to go up for about 1:3R
→ For scalpers good buy opportunities 20 pips at a time when price goes up.
Note
Still bullish after the day closedTechnicals
→ We came into a zone which we multiple times, will we hold?
→ We broke out of channel and still respected it
Fundamentals
→ Important next week is OPEC+ meeting 2nd June. Please be aware of the potential GAP when the market opens.
Trade
→ For intraday/swingers long opportunity to go up for about 1:3R
→ For scalpers good buy opportunities 20 pips at a time when price goes up.
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