USOIL
has recently got on an uptrend but price has reached an important level of FIB levels...Price will see a lot of congestion at this point, like what we are seeing already.
I have shown various timelines and important support and resistance levels going ahead.
Look for signs if price makes higher highs and higher lows, for confirmation of uptrend. and channel being respected.
So far price has respected the centre green zone as support levels on the RSI
The chart is self-explanatory .
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Cheers
I have shown various timelines and important support and resistance levels going ahead.
Look for signs if price makes higher highs and higher lows, for confirmation of uptrend. and channel being respected.
So far price has respected the centre green zone as support levels on the RSI
The chart is self-explanatory .
If you like what you read then please share a thumbs up!
Cheers
Comment:
Price moving well within the range so far, nicely towards the support line. If rejected, look out for retest upwards towards the upper trend line. Important to look where RSI goes from hereon
Comment:
Oil breaks the trend line (false breakout) as it could not hold the test of 2 days confirmation. Price back in the trend line. In my experience when price does a false break out, most times It tries and test the opposite side of the channel. Look out for more action
Cheers