Indices and commodities
Active
USOIL
Long
WTI Oil Momentum
Rationale
TradingView idea: WTI CRUDE OIL: Massive rally starting right now. for TVC:USOIL by InvestingScope
TradingView symbol: USOIL
WTI Crude Oil turned neutral on its 1D technical outlook (RSI = 48.785, MACD = -0.182, ADX = 15.724) as it scemented a HL at the bottom of the 3 month Channel Up and is reversing into a technical bullish wave. Even though it can extend as high as +39.37% based on the pattern's first bullish wave, our next target is the R2 level (TP = 111.00), which is the next Gap to be filled following the R1 on the previous bullish wave HH.
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