USOIL

Preference:
Oil was in a downtrend until price retested the lows on the daily time frame. In this area, if the price fails to create a lower low, we could see a retest of the previous support level, which is now resistance.

Alternative Scenario:
"If the downward trend in the market continues with the same strong momentum as before, we may see a continuation of this bearish trend."
FibonacciMultiple Time Frame AnalysisSupport and Resistance

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