Get started
AlgoVenture

USOIL Long - Reversal from 9-Month Supply Zone

CFDs on WTI Crude Oil (TVC:USOIL)  
AlgoVenture  
TVC:USOIL   CFDs on WTI Crude Oil
Trend Analysis Beyond Technical Analysis Crude Oil WTI usoillong trendreversal saudiarabia Descending Channel Supply Zone
3
0
trendanalysis beyondta usoil usoillong trendreversal saudiarabia descendingchannel supplyzone
The oil price has fallen for a straight 10 consecutive trading days.
A reversal structure has appeared as the price rebounded off from a 9-month supply zone, as well as the bottom of a 1-month falling channel.
Saudi Arabia is also going to cut its oil production by half in order to prevent the oil price from depreciating further.
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.