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.
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
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.