WTI Oil (USOIL) eventually gave us the 2 green day streak we wanted in order to turn bullish, as per our suggestion 2 weeks ago (September 10, see chart below):
Event though it marginally broke below April's Channel Down, the buying pressure it has build is similar to all 3 major Bullish Legs since June 2023. Notice how the 1D RSI forms the same Bullish Divergence (Channel Up).
However due to the lower bottom than the one we expected, we have to change our Target to 76.00, which represents a +16.60% rise from the bottom, similar to the smaller Bullish Leg of the three that started on the June 04 2024 Low.
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