USOIL. Possible bearish Cypher

11 ott 2016

Potential Cypher pattern at USOIL which can end a speculative bullish run on oil and start a corrective impulse towards approximately 41.48 . Please notice also a possible Bearish divergence forming on a daily chart.

If confirmed, I will short by market at 53-53.50 area with a SL at 54.50 and TP at 41.50

Closing a daily candle above 53 will invalidate the pattern and an idea

22 ott 2016

Nota

Bulls are still in command but last week there was some profit taking. Let´s see if next week we can tag 53 and start running down

26 ott 2016

Nota

Heading down from the top at 51.91. Let´s see how far it can get

30 ott 2016

Nota

Has it reached the intermediate target? Yes. Is it divergent? yes. Is it going down? Yes. But for some reason I don´t see it dead yet...

30 ott 2016

Nota

For those who want to add shorts, I´d expect for a pullback to 49.22 and add there. SL: 50.50. TP1: 47.50, TP2: 45.50, TP3: 42

6 nov 2016

Nota

TP3 on sight. Posting a new chart with new trade on oil