** Please LIKE π, SUBSCRIBE β , SHARE π and COMMENT β if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support me, keep the content here free and allow the idea to reach as many people as possible. **
The WTI Oil (USOIL) has been trading within a Channel Down pattern since early July. A key characteristic of that formation is that every time the 1D RSI entered its 35.50 - 30.00 Support Zone, the price rallied short-term on an increase ranging from +8.40% to +13.70%. Two days ago the RSI hit the exact 30.00 level and rebounded. A minimum +8.40% increase would made a new (Lower) High at 82.90 while the maximum of +13.70% would print 86.70 and most likely test the 1D MA50 (blue trend-line) as the August 30 Lower High did.
You may also TELL ME πββοΈπββοΈ in the comments section which symbol you want me to analyze next and on which time-frame. The one with the most posts will be published tomorrow! ππ