USOIL ASIA TRADE SETUP

14 May 2020

Technical Analysis- The 4 hour is down against 1/08/2020 peak (63.87). 1 hour is turning down. However, while near-term dips remain above 6.59 low expect OIL to extend higher to correct the cycle from 1/08/2020 peak in 3, 7 or 11 swings before downside resume. We prefer selling the bounces in 3, 7 or 11 swings at the extreme areas.

Sell USOIL

@26.10-40

TP: 25.00
Tp2: 23.00

SL: 27.00

Good luck !