USDOIL - Should Get To $89.8

1 set 2023

So based on liquidity this did look like the 200 day MA would be the obvious re-test, but instead USOIL is going on a wild rally here and the trajectory looks like this can be moving into a blow of phase.

Yesterday's candle was large and already today's candle is pushing up.

So the 500 day MA is just above but this doesn't look like it will be a double top and stop there.

If you look at the candle structure the previous high is much more shallow and so more chance this is now another wave up.

Most likely is that it will top with a shakeout through the long term trendline above and will likely hit the 1:0.618 Golden Window from $89.8 - $93.41.

Also notice RSI still has a lot of room to move up to match the previous high 🧐.

Not advice

14 set 2023

Trade chiuso: obiettivo raggiunto

Target hit.

USOIL is now in a double liquidity pocket beyond the long term trendline and in the 1:0.618 fib extension Golden Window.

It could get all the way to the overshoot ratio @ $93, but now that it is in the high liquidity area it can have a pull back at any moment.



Remember this is just a sample of my work.