Trend Channel Chart Projects Higher Prices for USO & WTIU
USO & WTIU Here's an interesting and unusual long view projection of USO on a weekly Trend Channel Chart with Fib levels. I like this set up here & this construct of the weekly chart. I feel like it clearly shows the trends within the longer wave cycle and creates defined price levels for a trade -
So looking at the chart I see a clear zone up to the previous highs. I can place a stop close by in the low 70's with a price target for the next leg up at 96-ish.. with a time frame of around 10-ish weeks. [do your own dd not a trade recommendation just an observation]
So looking at the chart I see a clear zone up to the previous highs. I can place a stop close by in the low 70's with a price target for the next leg up at 96-ish.. with a time frame of around 10-ish weeks. [do your own dd not a trade recommendation just an observation]
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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.