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truestrengthindicator Less Tags Show All Tags
Oil Break Out Imminent
USOIL
, 240
Long
USOIL: Oil Break Out Imminent

I see Oil returning to its 200 Day MA around $52 before further upside.

Bear Trap -- WTI headed higher after briefly touching $42.20
USOIL
, 240
Long
USOIL: Bear Trap -- WTI headed higher after briefly touching $42.20

It looks like a bear trap is developing in WTI after the recent run-up. On the Sling Shot system, maximum pain was $43.2 and it bounced of that level dramatically. $44 should remain support, and it should close >$44 today. Looking for that Head and Shoulders pattern to be a fake-out.

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