USOIL POTENTIAL LONG
USOIL is on my watchlist for this week ahead, my long term bias is still bearish on this pair but from the weekly closure I don't see any current short plays as the rejection at 57.00 making the recent lower high was a nice short to take. I am looking now for usoil to continue this downward trend and come into my demand zone of 51.0 to 51.5, if this is to play out wait for price action confirmation to enter a long with a TP around the 54 region, for a 270 pip target.
This will be void if sell pressure is too high causing a break of the 51.0 level.
This will be void if sell pressure is too high causing a break of the 51.0 level.
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