USOIL: Weekly uptrend signal pending confirmation

If we see oil hit the 47.99 handle before the close on Friday, we can expect a sizeable rally to take place. If we do break above the monthly resistance above, validating this signal, the targets are, in order of probability: 58.21, 65.63 and 80.67.
Right now, this would appear like a mad man's delusion, but, it's what the chart shows as logical, and probable if all trade parameters are followed.
The next step, if you took the long when I called it, is to let the trade run, for the next two weeks, examining activity to validate the uptrend, or discard it.

Stay tuned for updates,

Ivan Labrie.

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Leave a comment below if you caught the entry from my previous 2 ideas.

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We hit the range expansion threshold today in the weekly chart. Daily close was right above the Jackson Hole key level, so we have good odds of continuing higher.
Good luck!

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We'll add to $USOIL by Friday

Price has to hit 51.76 within the next 3 weeks (including this one), target is over 58...

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Daily target for today might not get hit:

We can either close half, or simply wait and add if it dips.

Сделка активна:

The weekly chart has a valid long setup here, stop at June 24th's daily low (Brexit).
2.72R potential or more. Risk 0.5-1%

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Holding this position for the long term.
Additionally I'm taking swing trades without closing it.

This is good: www.bloomberg.com/ne...limit-oil-production

Add to it EIA data on Wednesday and we'll have a massive surge.