USOIL seems to be finally testing the lower band of a steep channel. a break down of this can lead to a good trade /otherwise a low risk pull back trade. stops can be the lower channel retracements
Bulkowski's Inverted Scallop in sight on Daily.
Has Trendline Resistance at around 1325-1327
EMA20 on daily at 1325 may provide necessary bounce.
A: 1305.38
B: 1375.92
(B - A) x 61% = Height of Impulse
B + Height of Impulse = Target Price.
($1375.92 - $1305.38) X 61% = $42.82
1375.92 + 42.82 = 1418.74
Lithium is expected to be in higher demand. ALB beat Est. the last two quarters. Rev. and Sales good, Net Inc. is okay but could use some work, and Share holder Equity is strong. Bullish to Neutral until continuation patters develops. Long with about a 12 months time horizon.
SHORTS TO THE MAIN SUPPORT FOR HOURLY WHICH IS 15.800 LEVEL. AFTER SILVER WILL JUMP UP AGAIN SL AND TP PROVIDED. STOCH AND RSI CONFIRM SLIGHT DOWNTREND
