USOIL is quite choppy in the last half year.
This is 1000/usoil chart which is more clear than usoil to tell us what is going on. After the quick decline in the first half year of 2016, 1000/usoil is in a large triangle correction. The wave E is going on now.
We should see a rise for 1000/usoil to complete the wave E which means usoil might have a drop in following weeks.
Good luck for everyone!
This is 1000/usoil chart which is more clear than usoil to tell us what is going on. After the quick decline in the first half year of 2016, 1000/usoil is in a large triangle correction. The wave E is going on now.
We should see a rise for 1000/usoil to complete the wave E which means usoil might have a drop in following weeks.
Good luck for everyone!
Nota
1000/usoil has chance of breaking down the neckline and starts the rapid decline without wave E. Buy the pull back of oil is more wise. Trade in long-term is more profitable.Nota
Pay attention to the decline channel.
Nota
Oil's move is quite confusion currently. If you are a long-term trader, I suggest waiting for the pull back to go long. If you are a swing trader or short term trader, I see a quick pull back in short term.Good luck!
Nota
It is going to break out of the wedge.Nota
It is in a wave (C) down. It should contain five waves. Target is around 48.8, if it can break out of the wedge.Nota
Really choppy oil. Pay attention to the support line and resistance.
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Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.