Hi guys!!!
What a fantastic trade yesterday: we identified the exact point of the pullback after the "big red candle" (see my H1 chart), and then down with the continuation of the drop. The second target indicated was 69.4: taken!
After that, prices rebounded by 1 dollar, a sign that many buyers were waiting for it, and that there were many profit taking (remember: there was the ema 50 and the black trendline, support of the bullish movement).
What happens now? As mentioned several times in the medium / long term USOIL remains long, and moreover the cycle is about to end. The daily resistance is at around 71.20, where we have the POC, the ema 21 and the dotted trendline.
So for a couple of days better to stay flat, looking for a good entry to ride the next movement.
Stay tuned and have a nice day!!!
What a fantastic trade yesterday: we identified the exact point of the pullback after the "big red candle" (see my H1 chart), and then down with the continuation of the drop. The second target indicated was 69.4: taken!
After that, prices rebounded by 1 dollar, a sign that many buyers were waiting for it, and that there were many profit taking (remember: there was the ema 50 and the black trendline, support of the bullish movement).
What happens now? As mentioned several times in the medium / long term USOIL remains long, and moreover the cycle is about to end. The daily resistance is at around 71.20, where we have the POC, the ema 21 and the dotted trendline.
So for a couple of days better to stay flat, looking for a good entry to ride the next movement.
Stay tuned and have a nice day!!!