USOIL Price Analysis: Maybe Oil Has Reached The Top?

USOIL Price Analysis: Maybe Oil Has Reached The Top?

As we discussed also yesterday the price had two options the upper movement.

First Option:
The price could have moved higher up to $96.8

Second Option:
The minimum requirement was the top of the structure as long as the price was testing all
time highest again close to 95.50

As we can see the price reacted according to the second scenario
and it also invalidated the Rising Wedge pattern.

As long as the price is manipulated from the war issue between U.S and Russia
I would not be surprised at all if we see the price bounce again up to $97.

Anyway I am focused on the downward movement as long as the price didn't
manage to move higher again.

Thank you and Good Luck!