USOIL: Today’s Strategy Analysis

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The short - term trend of USOIL remains in an upward oscillation. After the oil price hit a new high, it was quickly retracted, and this pattern has persisted for two trading days. Looking at the K - line chart, which has consecutively closed with large solid bearish candles, the downward momentum clearly strengthened yesterday. The overall objective trend shows a sideways/choppy rhythm. It is expected that crude oil will break below the lower edge of the high - range today and test the vicinity of 62 to the downside.

USOIL
sell@63.2-63.7
tp:62.5-62

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