Jumping right into it... I'm going to become more active with posting so that I may improve my trading. Brutal but constructive critiquing is more than welcomed. Any rate, I've never traded USOIL before but I thought to analyze and see what comes from it anyway. This is purely technical based. On the H1 it appears as though price is breaking beneath selling structure. My entry reasons would be bearish candlestick rejection patterns (star, bearish engulfing). I'll continue to check on this and repost how the analysis played out.
Comment:
Pushed higher than expected but ultimately was unable to create a new high. Would like to see a break and retest of the multi tested low of $39.85
Comment:
Trade pushed higher before perfectly rejecting the mapped out price at 39.85