The possible long position in USOIL pair.
A small recap from the previous idea, in the USOIL 'long position-wise', the price rejected move lower but retested at the EMA 50 from the 4H timeframe.
It breaks higher from a W formation and again just retested the previous resistance now turn to support.
If the price action valid, this time USOIL should break the 'Grey Area' resistance, you may find a better entry if the price action confirmed.
Please strictly follow the risk-management and confirmation for possible execution.
Risk Disclaimer: Any analysis or information is provided as general market commentary, and does not constitute investment advice. It is subject to change at any time without notice and is provided for the sole purpose of assisting traders to make own independent investment decisions.
A small recap from the previous idea, in the USOIL 'long position-wise', the price rejected move lower but retested at the EMA 50 from the 4H timeframe.
It breaks higher from a W formation and again just retested the previous resistance now turn to support.
If the price action valid, this time USOIL should break the 'Grey Area' resistance, you may find a better entry if the price action confirmed.
Please strictly follow the risk-management and confirmation for possible execution.
Risk Disclaimer: Any analysis or information is provided as general market commentary, and does not constitute investment advice. It is subject to change at any time without notice and is provided for the sole purpose of assisting traders to make own independent investment decisions.
