USOIL has fluctuated in the sideway range between 79.5 and 81.5 in last week after dramatically rising to this zone on the early of last Monday. This motion is forming to create the possible bull flag pattern in this chart. On the other hand, WTI is nearing the trendline of current uptrend so the demand momentum maybe appear in the coming hours. In my opinion, this commodity has a high probability to break the strong resistance of 81.5-82.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.