USOIL SWING TRADE 07-Oct-2020

(WTI) USOIL is trading within a range between 39.100 and 40.750 At 40.750 it got rejected twice and started the bearish run It has formed a inverted head and shoulder during the initial days of this month on right side of the inverted right shoulder morning star was formed which caused further buying pressure and reached 40.750 resistance level. The USOIL price is well below the .236 Fibonacci level
*Currently the price is trading below the 40.00 key psychological level. The next downside target would be around 38.00 where we can find previous shoulders level which may act as support for the bullish reversal*


SWING TRADE - (WTI) USOIL
Sell @ 39.410
Take profit @ 37.820
Stop lose @ 40.360

Don't risk more than 1% of your capital