Im a bull on this pair due to my technical analysis.this is the update of the trade plan i posted on the 14 JUNE 2017

WTICRUDE OIL DAILY 26062017

Market is bearish BUT overall we in a range and price is bullish with oversold stoch.Price came off MMP 48.23 at the start of the month and the target is MS2 40.20.WE can see bears are starting to take profit at MM1 42.32.this level have been strong support for a while.

Source: WTICRUDE OIL DAILY 26062017

WTICRUDE OIL H4 26062017

Market is bearish and price is bullish with the stoch heading up.we have seen for quite a while that price has been doing a lower low and lower high..we might see bears coming in at WPP 43.46 or WM3 44.2050with target of WS2 43.1867 confluence MS2 . as bull i will be looking to enter again after price has made a higher high and enter at high low at 44.2050. if my plan B will be looking for a counter trend at WS2 40.18 conflence MS2

Source: WTICRUDE OIL H4 26062017

WTICRUDE OIL H1 26062017

Market is bearish flat and price is flat with overbought stoch.we have reached our daily target for the day according to pivot theory. price has started to make higher highs on h1 .as a bull i want to go long again at my fib zones (32 , 50.0 ,61.8) with a target of 44.20 confluence wm3 44.20. i will be looking at my smaller time frames to enter the trade.

Source: WTICRUDE OIL H1 26062017

2 thoughts on “WTICRUDE OIL LONG 26062017 UPDATE”

  1. Thank you Frank, I know someone else who is bullish on oil but when I look at my charts I cannot argue with the trend that is yet to show signs of reversal. Monthly targets have been hit it could be argued however I was thinking of a move back up to WM3 and off the 55ma before a move down to, as you said the confluence of WS2/MS2.
    Thanks again for your post.

  2. frank says:

    no problem man.lets wait and see how the reacts

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