WTI Crude Oil has been correcting, more aggressively than most thought after a High outside of the Channel Up.
It is already under the 4hour MA50 and MA100 and is aiming for the Channel's bottom below the MA200 at 86.00.
You can sell on the current market price and pursue this target. If the 1day MA50 and bottom hold there, buy and target Resistance A (95.00).
If the Channel Up breaks downwards, don't jump in immediatelly even if it breaches lower for a short while, but wait for the first rebound near the 4hour MA50 to sell and target the 1week MA50 at 79.00.
Note: A 4hour RSI Double Bottom, can be an indication that the Channel Up bottomed.
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It is already under the 4hour MA50 and MA100 and is aiming for the Channel's bottom below the MA200 at 86.00.
You can sell on the current market price and pursue this target. If the 1day MA50 and bottom hold there, buy and target Resistance A (95.00).
If the Channel Up breaks downwards, don't jump in immediatelly even if it breaches lower for a short while, but wait for the first rebound near the 4hour MA50 to sell and target the 1week MA50 at 79.00.
Note: A 4hour RSI Double Bottom, can be an indication that the Channel Up bottomed.
Follow us, like the idea and leave a comment below!!
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