Crude Oil - Market Direction

There are some amazing setups forming on the charts, here we have USOIL 2.54% on a Daily chart . Straight away this could be an excellent buying or selling opportunity depending on the short term outcome, I will confirm a move higher or lower when we approach our trendline or resistance level... I'll be looking for opportunities on the lower timeframes in the near future. To round off we are currently trading above the 200 EMA which is an indication price could be pushing higher to create a higher point in our price channel.

Let's see how the market shapes up over the next month, check out my previous USOIL trade in the related ideas section.

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