USOIL CHART ANALYSIS - NOV 18

📊 USOIL CHART ANALYSIS

📈 Technical / Naked Price Action

⚖️ Overall Sentiment: Indecision 🍥

🎲 Hello traders!
Let’s take a closer look at USOIL, which is currently at a critical juncture. The price is sitting within the mid-range of a long-term yearly support zone that spans $68 - $64. At the moment, USOIL is hovering around the $67 mark, reflecting a high level of market indecision.

💡 Key Observations:

🔴 SELL Scenario: A sell opportunity arises if the price breaks below $64, signaling a bearish continuation.

🟢 BUY Scenario: A buy opportunity could emerge if the price closes above $68, potentially leading to a retest of the descending triangle’s resistance trendline near $76.

📌 Trading Tip:
For now, it’s best to exercise patience and wait for the market to decide its next path and confirm its direction.

🧠 Let’s Collaborate!
Share your ideas, thoughts, and charts in the ⁠💬┃community-chat channel. Got questions? Let us know—we’re eager to hear how you think USOIL will move next!

Best Regards,
The NFX Team™ 💚