Simple Technical Buy Set-up in USOIL

FX:USOIL   CFDs on Crude Oil (WTI)
After a decent correction, USOIL is now showing signs of consolidation at the 100D EMA .
Besides, it has also bounced off the ascending Trend Line .
In addition, we have a nice Doji candle after the recent drop .
All these technical factors point to a rise in USOIL in the coming days.
So, if price manages to stay above 58, I would be looking to buy with 63 as my initial target.
If price breaks the area that I have highlighted in my chart, then long entries will not be safe anymore.


Couldn't agree more:

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