vikinsa

USOIL Can Fall Further - Patterns Evolving

Short
TVC:USOIL   CFDs on WTI Crude Oil
Traders, USOIL had a very good upward run and since it hit our target of 53.59 it has started to fall. This can fall a bit further. This is not a reversal. This is more like a correction on the previous move. There is head and shoulders pattern evolving which may work out. Also the price right now is in an FCP zone after completing the M FCP pattern ( Fibonacci Confluence Pattern).


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1. Never trade too much
2. Never trade without a confirmation
3. Neve rely on signals, do your own analysis and research too

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-Vik

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📌 DISCLAIMER
The content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of education only.
Not a financial advice or signal. Please make your own independent investment decisions.
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Comments

Excellent analysis. thank you for sharing
+1 Reply
vikinsa abel11
@abel11, Thank you :)
Reply
@vikinsa Tx for the technical angle.... I believe even fundamentally it could go down given the ongoing lockdowns.... Tx
+1 Reply
vikinsa rahulneo
@rahulneo, Yes Rahul, you are right. They are also supportive of this analysis
Reply
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