USOIL

Updated

USOIL is bottom edge of channel. Main trend is still not bullish.

Note

The candles on the 25th, 26th, and 27th show similar patterns. Any tightness observed is likely to resolve and lead to a forthcoming movement.

Note

USOIL broke its last swing low of 81.56
In this conflict geopolitical tension oil price is declining is something suspicious to me. Next level to watch is 78.70

Note

As anticipated, the has broken the 78 level and is currently trading at 77.08. I'm patiently observing for the formation of a reversal candle within the next few days. The subsequent significant level to monitor stands at 68, but I'm not certain it will be reached in the near future. I consider 74 as a favorable point to initiate a long position for a decent risk-reward ratio.

Note

is trading at 73. favourable for quick trade upto 76-77 😎
next best zone to buy is 67-68.

Trade closed: target reached

from 73 to now trading at 77.63
a nice counter trend trade closed with +4% in capital gain.

ImHardik88

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