USOIL looking prime for a rally. Currently holding above support
Fundamentally OIL is set to increase in value. Supply is decreasing. I know in the future electric cars will take over and oil will not be needed. But until then our old friend OIL deserves one last bull run. (cooperates have one last chance to cream the cash cow they have been creaming for years.)
On a TA point of view. OIL is holding above a very strong support level. Short to medium term trade. Could rally to $80+
However i am going to take profit as shown on the diagram.
Sorry for the basic diagram but it looks super clean and crisp. The graph is currently very self explanatory.
Good Luck & Happy Trading. *****not financial advice**** :)
On a TA point of view. OIL is holding above a very strong support level. Short to medium term trade. Could rally to $80+
However i am going to take profit as shown on the diagram.
Sorry for the basic diagram but it looks super clean and crisp. The graph is currently very self explanatory.
Good Luck & Happy Trading. *****not financial advice**** :)
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