Home Forex Forex Market Analysis USOIL (WTI) – EXPECTING TO SELL THE SHOOTING STAR (UPDATED).

USOIL (WTI) – EXPECTING TO SELL THE SHOOTING STAR (UPDATED).

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Instrument: USOIL (WTI)

Main Outlook: Bearish

Forecast Timeframe: 2 to 3 weeks.

 

Summary.

In the original Long-Term Pick, we proposed the level of $63 as the first profit target. Today, the USOil has reached our first profit, now is the time to move the SL to breakeven and let the trade run to the final profit target of $59.75.

Charts.

Figure 1: USOIL Original Scenario.(Click image to enlarge)

 

Figure 2: USOIL Updated.( Click image to enlarge)

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