USOIL possible sell zone!!USOIL (D) has broken out of daily support with a strong bearish engulfer. The price is already in a downtrend and it is possible that the price will drop to the monthly support level before creating upward movement. On the test of this previous support as resistance, if enough rejection is shown, a selling opportunity may arise.
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Usoilidea
👉 USOIL The main goal is to decline to support levels👉 USOIL The main goal is to decline to support levels
The emergence of an uptrend from a support level with a breakout of a downstream channel
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USO: Rubber BallLike a rubber ball, USO has bounced off the green zone between $77.92 and $79.69 twice and finished wave 5 in green. We now expect it to jump a bit higher still to finish wave ii in orange before dropping down until the support line at $67.68. There, it should rebound to complete wave iv in orange and resume the overarching downward movement afterwards, which should lead into the turquoise zone between $60.18 and $43.48. There is a 30% chance, though, that USO could jump above the resistance at $87.83, thus continuing the ascent instead.
USO: Springy 👟👟USO seems to have put on its extra springy sneakers as it has jumped up into the green zone between $83.54 and $87.83 quite briskly after pressing against it for some time. Now, it should finish wave B in green in this region and subsequently turn around to move downwards. On its way, USO should then drop back below $82.48 and also fall below the support lines at $67.68 and $62.92 to reach the yellow zone between $60.18 and $43.48, where wave (2) in yellow should end.
USOIL Very Near Strong Res , Short Setup With 4H Bearish P.A This is an educational + analytic content that will teach why and how to enter a trade
Make sure you watch the price action closely in each analysis as this is a very important part of our method
Disclaimer : this analysis can change at anytime without notice and it is only for the purpose of assisting traders to make independent investments decisions
USOIL - LONGUSOIL is looking like it may move higher.
We have found a bottom (point 5 green) and a nice reversal higher.
We have made it above point 4 - creating new high and we should take nice profits now.
Now we expect a reversal to the breakout - blue line.
If it gets there we'll examine the price action to see if we can go long again and continue the swing higher.
USO: StairwalkerUSO has planned a tough workout on the stairwalker. After finishing wave iii in turquoise in the upper turquoise zone between $76.92 and $75.60, it should move upwards to complete wave iv in turquoise. Then, USO should drop into the lower turquoise zone between $73.45 and $72.12 to end waves v in turquoise and 1 in green. Following another countermovement into the green zone between $77.71 and $81.57, where wave 2 in green should end, USO should fall below the support at $67.68 and the one at $62.92. There, it should enter the yellow zone between $60.18 and $43.48 to finish waves 3 in green, c in orange and (2) in yellow.
Oil Repeting Pathern?We know how istitutions and people in general are moved by emotions, and chart partherns most of the time
will USOIL behave in the same way?
There are few events in the Economic Calendar for the next week previewing a rally on the dollar, which may cause Oil prices to plunge a bit
USO: Island Hopping 🏝 Summer is approaching slowly but surely, and some might start to arrange their next holiday. Meanwhile, USO is already heading south and has a bit of island hopping planned. The first stop should be in the green zone between $68.62 and $66.43, where USO should finish wave 3 in green – and maybe drink a cocktail or two. Then, it should draw some breath in a short countermovement to complete wave 4 in green. Afterwards, the next green island between $62.86 and $60.67 is waiting, where USO should conclude wave 5 in green, wave c in orange and wave in magenta. Following another countermovement in wave in magenta, USO should finally reach the warm beach strip between $60.18 and $43.48 to finish wave in magenta and wave (2) in yellow and to catch some rays.
USOIL top-down analysisHello traders, this is the full breakdown of this pair. We will take this trade if all the conditions are satisfied as discussed in the analysis. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
USOIL top-down analysisHello traders, this is the full breakdown of this pair. We will take this trade if all the conditions are satisfied as discussed in the analysis. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
Oil Possible Top?We've been tracking a count on US Oil and it looks like the intermediate top is in for wave 1, if that's the case we can set up for a nice short trade for the wave 2 coming down to the 75-80 dollars range. If you do want to make this trade we'd suggest putting your stop at 92 dollars with a take profit at 80 giving a very healthy 1:5 risk to reward opportunity.
USOIL hit blue channel Oil received a reaction from the blue channel, if it does not break the channel, the first target is 92.86 and then 93.82 is expected.
I'm using Fibonacci circle , Fibonacci levels , Fibonacci channel to create this analysis
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DISCLAIMER: This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.