USOIL has been in a bullish trend, characterized by higher highs (HH) and higher lows (HL). However, a recent bearish divergence indicates that the bullish momentum is waning. This is further supported by the formation of a bearish rising wedge pattern, which reinforces the bearish outlook. A promising selling opportunity is likely to emerge if the price breaks below the previous higher low of 80.435.
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pattern invalid
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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.