USOIL Potential Head and Shoulders Formation
Updated
USOIL made a massive move after the pandemic and it's now moving in a range. It's currently trading in the resistance zone. Based on previous price action, it seems like it will complete this Head and Shoulders pattern over the next few weeks.
But it's quite possible that it will continue its move upward after completing this pattern because there are fewer chances of a breakdown. This analysis will be considered wrong if it touched 78.30 level before completing the pattern.
Thanks!
Best Regards,
Trade Like Pros.
But it's quite possible that it will continue its move upward after completing this pattern because there are fewer chances of a breakdown. This analysis will be considered wrong if it touched 78.30 level before completing the pattern.
Thanks!
Best Regards,
Trade Like Pros.
Trade closed: stop reached
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