Potential Long US/Oil? Target 63 Dollar Break above Counter TL

14 May 2019

We could see that this area was broken to the downside after price bounced around this wedge formation for a while. Now we can see price has broke back into this region and rejected this area. I believe there is a chance that price could ralley back on to the 63 Dollar a barrell region but we need confirmation on a strong 2 Hour close above the counter trendline and a 4HR close above would be enough in my opinion to take the trade to the upside but please as always do your own analysis.