Usoil was consolidated for 13 weeks in the top. This week is the 13th week after its breakdown. It seems that the bottom will be formed this week.
If we check the previous low until top was 22 weeks, it is another 22 weeks after the top. The time target is overlapping.
From EW aspect the correction is completed here.
It provides a good trading opportunity here.
Good luck for everyone!
Note
Daily chart:
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.