According to Technical Analysis My perspective of USOIL for the week 01/02/2020 - 06/02/2020 is bearsish market move.
NOTE : According to The Daily Time Frame The Market Flow for USOIL has been in a bearish market flow for the past 40 Days.
There was a strong Bearish Push at price 64.65 falling to the downside which later broke a previous level of resistance that transition into
support then further break the level again to serve as a resistance, and price melts to 52.16 at strong liquidity area of demand.
The Demand area further broke and we're looking forward to repeat of break and retest to the next rejection level of 48.56.
Target One - 48.56
Target Two - 44.64
NOTE : According to The Daily Time Frame The Market Flow for USOIL has been in a bearish market flow for the past 40 Days.
There was a strong Bearish Push at price 64.65 falling to the downside which later broke a previous level of resistance that transition into
support then further break the level again to serve as a resistance, and price melts to 52.16 at strong liquidity area of demand.
The Demand area further broke and we're looking forward to repeat of break and retest to the next rejection level of 48.56.
Target One - 48.56
Target Two - 44.64