Hi everyone:
USOIL has a nice sell setup forming. We can see the price action made a double tops on the 4 hr chart, and broke down from the wedge. Now the price action is pulling back to form a lower high. Entering when there is a confirmation of resistance and rejection is a good idea.
Potential target down to the lows of 44.00 and 43.00 area.
Thank you for your support and feedback.
USOIL has a nice sell setup forming. We can see the price action made a double tops on the 4 hr chart, and broke down from the wedge. Now the price action is pulling back to form a lower high. Entering when there is a confirmation of resistance and rejection is a good idea.
Potential target down to the lows of 44.00 and 43.00 area.
Thank you for your support and feedback.
Note
Here is the 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.