USOIL released the EIA data half an hour ago, which showed bearish news for USOIL. However, the market saw an uptrend mainly due to the fact that the data, although higher than expected, was lower than the previous value, which is actually bullish for USOIL. This rebound was also within expectations.
However, after the data release, the market is expected to return to the trend. Therefore, it is recommended to short USOIL on rallies.
Trading suggestion: short at 77.5, take profit at 76.2 and 75.5, stop loss at 78.2.
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Trade active:
USOIL is shorted at 77.6 Now
Trade closed: target reached:
Oil plummets, pay attention to stop profit