WTI Oil: Buy opportunity on the pull back.
Oil made the expected Higher High on the 1D Channel Up (RSI = 56.507, MACD = 0.750, Highs/Lows = 0.1029, as forecasted on the buy call below:
At the moment the 4H RSI has reached the 1-month peak and is consolidating, a sign that normally indicates the start of a pull back within the Channel Up in order to price a Higher Low. If the 4H MA50 breaks (so far held once on Friday), we are expecting a full retrace to the Buy Zone within the Higher Low and MA200. Our Target Zone then will be 59.80 - 60.90.
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At the moment the 4H RSI has reached the 1-month peak and is consolidating, a sign that normally indicates the start of a pull back within the Channel Up in order to price a Higher Low. If the 4H MA50 breaks (so far held once on Friday), we are expecting a full retrace to the Buy Zone within the Higher Low and MA200. Our Target Zone then will be 59.80 - 60.90.
** If you like our free content follow our profile (www.tradingview.com/u/InvestingScope) to get more daily ideas. **
Comments and likes are greatly appreciated.
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Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial