🤔 Day 5, not including weekend of oils trend change.
Your key Resistance level is the green upward support that we broke. This shows potential for a new trend as the Crossover strategy has been red and the ema dots have also been red.
You will want to confirm a long position when the green align back above the new Resistance. Otherwise let it ride. This is for a longterm swing trade confirmation. Easy as that.
Makes sense. I’ve been in USO since it’s 18s and not selling it. (Post split). I don’t think this declines all the way back down but do believe what you’ve is right.