WTI Crude Oil Cash forum
USOIL okay, it looks like oil will settle above 50 days MA at 72.35, meaning it should test the next resistance. There is a gap to be filled at 73.35. Now, oil will be oil, on the downside there is also a gap to be filled at 71.65, either that will be your next perfect long entry or it will resume the bearish momentum. The question is will it go there or will it test the nearest resistance first? Any thoughts on minds here?
USOIL buy buy target 75.50
USOIL Still waiting for Steel/Aluminum tariffs...my spoon factory will be devastated.
USOIL Going to test 73.45 area zone soonUSOIL 71.3 tomorrow. The market ignored Trump's latest Tariff fart.
WTI Looking at the Daily, it is in Bearish Market Bias. Price action is likely to form a W-shaped pattern around the Pivot Low (shown as green arrows). This week, we may see the bears take the market down to form the 3rd leg of the "W", then the bullish rally resumes for the last leg of the pattern.
*Side Note: The candles are consolidating within a tall Inside Day pattern for a breakout at either the low (at 70.165) or high (at 73.015).
USOIL so far we have seen a double correcitve Wave.Flat - X - Flat (B wave as a triangle here) would like to see a bigger retrace now. but could play out as a tripple. the Distance is pretty short compared to the Elliot wave before.
USOIL Next target for this week 75.14 we've tested the 72 ceiling expect a pullback for more upside.
USOIL sell 72,31TP 71,00
TP 70,60
sL 72,90
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USOIL tradingview.com/x/M2gnFHc3As we predicted US oil went upside until the trend line touch then sharply downside continue
