Hey All Fellow Traders, Teachers, Students,
Here We are looking at USOIL under Higher Time Frames Bearish Structure , and HEAVY SELLING PRESSURE! After Covid 19 Plummeted the Price back in March 2020 it was hard to see USOIL something as even slightly bullish. Although we made a nice retracement back up into the mid 30s levels, we will not last here for long within the next weeks/months. Currently USOIL has performed a Weekly Pivot at around 36 that has been holding us support. As you can see this last week sparked a nice drop already back down to test our weekly pivot support. Once broken we can look to take first TAKE PROFIT at around $30 support area. This is Looking STRONG for Sellers, and We can Begin to Confidently Add SELL POSITIONS UNDER $36.00 Weekly Pivot Support!
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