WTIOIL USOIL Long

7 thg 3, 2020

So we have met the 2 downside TP targets and we are searching for the bottom here. my expectation is that we will hit just under $40, at around 39$ this is a very strong confluence area. we can already see divergence on the daily MACD and we are well over extended on the RSI 4hour and MACD 4hr, therefore the obvious area to retrace is the one shown on the chart. I expect a retracement back to $55 at .5 fib and the trendline we broke down from in blue

I link the previous Idea of this short move that I posted on jan15th when we were at $57 and again on 28th feb