📉 USOIL Price Forecast 📉 TVC:USOIL USOIL has formed a head and shoulders chart pattern, with the neckline already broken. Additionally, a retracement has occurred, and the price has broken below the 200EMA. The next likely move is a retrace towards the moving average and neckline before further downward movement. Confirmation for selling levels will be sought after the formation of a strong bearish candle.
Key Points: 1. Head and shoulders chart pattern signals a potential reversal. 2. Breakdown of neckline and 200EMA confirm bearish sentiment. 3. Retracement towards moving average and neckline expected before further downward movement. 4. Selling levels to be confirmed after the formation of a strong bearish candle.
Key Levels: - Support: 79.90, 77.80, and 76.30 - Resistance: 81.00, 81.50, and 83.00
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