Oil haven't corrected down with market recently. DXY is on a tear and indexes and other commodities are getting butchered. Oil is next.... -Waterfall-
If history rhymes, we break high fifty-nines! :)
Simple 1-2-3 takes USOIL to 74.50. First big resistance is 63, and should be profit target 1. Stay long. Free money :)
The daily candle gives you a clue that this was a top. Short with SL above daily candle, TP at GAP around 180. Reward 4+ times the risk. Enjoy!
Gold has broken out of StochRSI-wedge and also did a backtest of it, this should rocket it to new yearly highs on the daily chart!
Looks like there is a "hidden" head and shoulder formation, if it plays out, price could take another big nose-dive south in the coming days & weeks. I'm jumping on shorts here with huge risk to reward. Stops above 68.60. Take profit 65.
We should see a classic run up to the green-box for conservative profit-target, but it can also go to the purple-line according to classic Wolfe-wave patterns. Stop-loss below low of point 5. Happy trading!
Just my view on what might happen. This chart is just for my own reference, and any trade should not be taken from it.