USOIL(BULLISH) - ABCD completes around $68
Hey traders, I am spending my weekend browsing across different instruments.
The recent HOT commodity that everyone is talking about is oil.
This is how I see oil based on Harmonic analysis.
1. Price is bouncing off the lows on the daily channel
2. AB=CD patterns completes around $68
3. I am very bullish on OIL and I expect most commodity linked currencies to strengthen, namely Aussie, Kiwi and Canadian dollar.
Beaten down oil related stocks could also be revisited for potential long opportunity.
Plan of execution
1. Buy low on oil pullback
2. Try to capture simple AB=CD completion on the hourly chart to buy
Feel free to share what you think about oil with me.
The recent HOT commodity that everyone is talking about is oil.
This is how I see oil based on Harmonic analysis.
1. Price is bouncing off the lows on the daily channel
2. AB=CD patterns completes around $68
3. I am very bullish on OIL and I expect most commodity linked currencies to strengthen, namely Aussie, Kiwi and Canadian dollar.
Beaten down oil related stocks could also be revisited for potential long opportunity.
Plan of execution
1. Buy low on oil pullback
2. Try to capture simple AB=CD completion on the hourly chart to buy
Feel free to share what you think about oil with me.