USOIL triangle correction (2017-01-13)

13 янв. 2017 г.

USOIL is quite choppy in the last half year.

This is 1000/usoil chart which is more clear than usoil to tell us what is going on. After the quick decline in the first half year of 2016, 1000/usoil is in a large triangle correction. The wave E is going on now.

We should see a rise for 1000/usoil to complete the wave E which means usoil might have a drop in following weeks.

Good luck for everyone!

13 янв. 2017 г.

Заметка

1000/usoil has chance of breaking down the neckline and starts the rapid decline without wave E. Buy the pull back of oil is more wise. Trade in long-term is more profitable.

17 янв. 2017 г.

Заметка

Pay attention to the decline channel.

18 янв. 2017 г.

Заметка

Oil's move is quite confusion currently. If you are a long-term trader, I suggest waiting for the pull back to go long. If you are a swing trader or short term trader, I see a quick pull back in short term.

Good luck!

18 янв. 2017 г.

Заметка

It is going to break out of the wedge.

18 янв. 2017 г.

Заметка

It is in a wave (C) down. It should contain five waves. Target is around 48.8, if it can break out of the wedge.

18 янв. 2017 г.

Заметка

Really choppy oil. Pay attention to the support line and resistance.