USOIL has some bull signal on daily chart. Please go check it . Now we are wondering where is the best entry to join the buyers' group with a reasonable SL. You dont want to have a $2 SL to hunt $1 profit only, right?
The red channel is the main down trend since October. The blue channel is going to have 5 wave to make the first uptrend, targeting 60 .
I think 60 is not that hard to recover, the harder thing is to stand above it .
Less is more!
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USOIL could drop down again to make d retest of the bottom before touching 60.