Like I drew on the chart, the USOIL is likely to test the previous resistance since it has maintained the support of 100&200 days' MAL and up-trend line so far.
To be continued.
I opened my long order yesterday at 31.2, and now the price is testing the first resistance of Fibo extension of 150%.
Not bad. It just broke the first resistance.
Trade closed: target reached:
Although target reached, and the oder was closed, I recommend that open long order when it pull back to 32.25 which is Fibo extension of 150% and previous support, looking forward to above 35.
Hi, tbuckle, as far as I am concerned, the first support will be the coming one of 32.25, and the second support will be the 200day's MA as well as the previous down-trend dotted line. The strong support will be 30.00, which is Fibo extension of 161.8 and a important psychological support.