InvestMate|USOIL A powerful buyout🛢️

🛢️USOIL A powerful buyout.

🛢️This time I come to you with a real gem.

🛢️OPEC is likely to remain with production cuts. Which may cause a lack of strength for further declines.

🛢️Ahead of USOIL, an opportunity to make a large upward correction has opened up.

🛢️All thanks to Monday's move.

🛢️The price at the very beginning of the European session and at the opening of the American session was falling until we completely reversed the trend during the American session. The entire decline was overbought

🛢️We made a beautiful candle with a very long wick which in a large number of cases heralds further increases.

🛢️Looking at where we are, this scenario becomes very likely indeed.

🛢️I determined support based on new lows.

🛢️Resistance, on the other hand, I determined based on a cluster of two fibo levels. The first is the 0.236 level of the entire downward wave lasting since March and the second is the 0.681 level of the current downward wave.

🛢️In these areas I am looking out for resistance and a possible stop of the upcoming upward impulse.

🛢️The scenario I am playing out is for the price to move northwards, not excluding corrections along the way, finding solid resistance at the zone marked on the chart.

🛢️*Please do not suggest the path I have drawn with the lines this is only a hypothetical scenario.

🚀If you appreciate my work and effort put into this post I encourage you to leave a like and give a follow on my profile.🚀