Rounded to a 100 tick movement point&figure chart of USOIL. By the looks of it, oil is building up momentum @ $63 and 600 tick movement can be expected. At this point, odds favour oil moving lower towards $57 but this can change by EOW. Staying tuned for further tells.
Note
This method is primary used to calculate profit targets for positional entries.
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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.