Decoding USOil Trends
Updated
Hello traders,
Here, I aim to decipher the trends of USOIL across all timeframes.
On the weekly chart, a cup & handle pattern is evident, with $84 serving as the pivotal price. A clear breakout on the daily timeframe could signal a bullish stance for USOIL.
First target: $94
Second target: $109
Stop-loss: Close below $72 on a daily basis.
I'll keep you updated as the situation evolves.
Best of luck
Here, I aim to decipher the trends of USOIL across all timeframes.
On the weekly chart, a cup & handle pattern is evident, with $84 serving as the pivotal price. A clear breakout on the daily timeframe could signal a bullish stance for USOIL.
First target: $94
Second target: $109
Stop-loss: Close below $72 on a daily basis.
I'll keep you updated as the situation evolves.
Best of luck
Note
If the sideways scenario unfolds, we will monitor the breakout of the triangle pattern.Note
From a sinusoidal wave perspective, we anticipate a bullish wave until November 28, 2024, following the US presidential election. I believe the newly elected US president will likely have international matters to address. Note
Here is 1H timeframe chart, I think the bullish wave is targeting 84$Note
this chart for Aramco support the analysis of bullish trend till the end of 2024Note
First target 🎯 reachedNote
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.