Moshkelgosha

A 3-5% correction is likely in the next 5-10 days!

Short
TVC:USOIL   CFDs on WTI Crude Oil
n these charts, you can see the most important support (green lines) and resistance (red lines) to watch in the coming days!

Multi-Timeframe Analysis:

Hourly Chart: Double Top ( Bearish )

Daily Chart: Double Gravestone Doji and confirmation bearish candle at the upper border of the bullish channel ( Bearish )


Weekly Chart: crossing above resistance level after 3 years ( Bullish )


Monthly Chart: crossing above major resistance level 77 after 7 years. ( Bullish )


Conclusion:
Short-term 3-5% correction is highly likely.
The long-term is still bullish unless the USOil price gets back below 77 and stays there.

Inverse Oil ETF SCO (2x) May provide a 5-10% gain opportunity in short term:

Best,

Moshkelgosha

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