Hi everyone:
USOIL has a nice sell setup forming. We can see the price action made a double tops on the 4 hr chart, and broke down from the wedge. Now the price action is pulling back to form a lower high. Entering when there is a confirmation of resistance and rejection is a good idea.
Potential target down to the lows of 44.00 and 43.00 area.
Thank you for your support and feedback.
USOIL has a nice sell setup forming. We can see the price action made a double tops on the 4 hr chart, and broke down from the wedge. Now the price action is pulling back to form a lower high. Entering when there is a confirmation of resistance and rejection is a good idea.
Potential target down to the lows of 44.00 and 43.00 area.
Thank you for your support and feedback.
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Here is the daily chart:
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