Bullish Shark Pattern Sets Up Low Risk Entry On OIL

A bullish shark pattern is setting up on oil with a potential reversal zone centered around 20.00. This entry comes on a retest of the lows on oil, with the RSI gradually becoming oversold, and provides a great setup for a low risk long term buy on oil. We are unsure if this is the true bottom for oil, but this pattern presents a great trade opportunity. Entries near 20.40, Stops below structure, with Target 1 at 24.00.

Yorum:

Market has entered the potential reversal zone