USOIL witnessed some good support levels around $20 psychological pain threshold area. Excepting to see movement back to $25-30 in a few days' time. Might go even higher before testing $20 again.
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Testing $20 again. Holding still.
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Testing upper line of triangle now. Hopefully we see breakthrough before US markets open.
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Big candles above upper trend line!
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Seems like older resistance is working as support now. Take some profits, wait for higher high!
Consider as well a testing of the 19 $ level again and watch out bcs we have a h&s pattern on this time frame, which can break lower then from the 19/20$ level. If your lower trend line is broken, be careful ! That's just my personal guess.
Em4rk
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@Woerle, good thoughts. I assume there is going to be some stop-limit tests around $19-20 area so we do need to be extra careful.