Amidst the chaos and extreme volatility of the past 2 weeks, WTI Oil (USOIL) seems to be stabilizing. Not ‘trusting’ it of course completely due to the fluid geopolitical situation but on the short-term it did break below its 4H MA100 (green trend-line) for the first time in 1 month, giving us a pattern to work with.
Technically, this is bearish continuation signal towards the next Support, which is the 4H MA200 (orange trend-line). We expect contact to be made with it at $81.00, which is exactly on the 0.5 Fibonacci retracement level from the recent Top. An additional short-term Sell Signal is the 1D RSI breaking below its 3-month Higher Lows trend-line.
—
** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ 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 us, keep the content here free and allow the idea to reach as many people as possible. **
—
💸💸💸💸💸💸
👇 👇 👇 👇 👇 👇