US OIL - Potential upside move to 78.00

7 giu 2023

USOIL After the Gap up on Monday we got a nice retracement back to the 61.8% level yesterday followed by a 200 point rally.
Now there is the same pattern on a smaller scale but the same set up.
if it holds above 71 then the intra-day upside target is 73.00 but there is a chance that on the higher TF we could get to 78.00.
See how this one plays out.
I will post updates as it goes along.

8 giu 2023

Nota

Intra-day target reached. Now we look for the next pattern to see if its more upside or another move lower. I will post potential areas later today.

Enjoy the day.

11 giu 2023

Nota

After the top at 7300 we got the sharp move lower to complete the alternative Gartley pattern to the downside at 6900 and with a sharp rally out of there then we now look for the continuation towards the 7800 target. I will post smaller TF targets and set ups as we go along.

Enjoy the week.

12 giu 2023

Nota

Looking at the last levels of support here. Below these levels we start looking at 500 points lower and a whole new plan.

16 giu 2023

Nota

After making a deeper correction than originally expected, we are now looking for the possibility of more down side towards 64 again. that all depends on what happens when it completes the upside pattern between 71.63-72.00.
At this level we have the ABCD Gartley completion at 7163 and the double Fib levels from the June 5th & June 8th highs. A reaction from here could start the move lower. On the bullish side of things, Support on 72 could see the correction over and we start the move towards the 78 Target.

I hope this helps. Enjoy the day.

16 giu 2023

Nota

Gartley pattern.

19 giu 2023

Nota

After completing the Gartley pattern on Friday and dropping 100 points today its gone back up to complete one more higher. We now look for correction levels and patterns to get a long trade or more down side.
Quiet day today due to US Markets being closed.
More charts and updates coming as we go along.
Enjoy the week..