- March 2, 2023
- Posted by: Tradingshot Articles
- Category: Commodities
We are updating our WTI Oil (USOIL) outlook on last week’s buy signal:
Target 1 (78.50) has been hit as the price reached the Lower Highs trend-line that started on the January 27 High. If a 4H candle closes above this trend-line, you can extend buying towards Target 2 (80.00), which is where the 1D MA100 (green trend-line) is, posing as the Resistance.
We will open sells when the 4H RSI makes a Lower High. This has worked 100% on all three previous Highs of the December – February range.