USOIL (WTI Crude Oil) Bullish Engulfing Candle at Weekly Trend line

US OIL Weekly Analysis :


USOIL Weekly Chart
USOIL Weekly Chart 
As we discussed , USOIL Support Near Weekly Trend line US Oil near-weekly trendline support as we can see on a weekly chart. Weekly candle forms Doji which is suggesting neither bulls or bear won, but last fall was stopped & we may see a reversal.

Now, Doji + Bullish Engulfing Candle at Weekly Trendline set up forms which are Highley Bullish setup. Bulls are in full control to take towards $55 in near days.

Let's jump into a lower time frame 4H,


USOIL 4H
USOIL 4H 

Previous Swing High - Low was 65.61 & 49.30.
Fibonacci 38.2% is at 55.50 

Trade SetUp: 

USOIL Buy CMP $52.17 for the Target of 55.50 & SL 49.20 


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