USOIL is forming a clear corrective pattern inside a falling channel. Price is currently in the final leg of wave (5) of (C), suggesting one more dip is likely before reversal.
The downside target lies near 5,000–5,200, where support from the channel base aligns. Once this level holds, a strong bullish reversal is expected, marking the end of the correction and the start of a new upward trend.
Stay Tuned!
Money_Dictators :)
The downside target lies near 5,000–5,200, where support from the channel base aligns. Once this level holds, a strong bullish reversal is expected, marking the end of the correction and the start of a new upward trend.
Stay Tuned!
Money_Dictators :)
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Life-time free telegram channel - t.me/moneydictators
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.