🛢️ Nearest strong support zone: around recent lows.
🛢️ Nearest strong resistance zone: around the gibo 0.236 level of the downward wave.
🛢️ Technical environment:
📊 Moving averages: 50/50
📊 MACD: Uptrend
📊 RSI: Uptrend
🛢️ Price action: USOIL, however, bounced strongly once again from around the local lows thanks to which it only confirmed the fact that demand is not sleeping. This forced me to reflect and change my attitude to an upward one. A very interesting opportunity has opened up for us to create a really solid upward correction of the current downtrend. It looks like the current impulse could turn into something much longer.
📈 The scenario I'm playing out is a continuation of the uptrend. I don't exclude the possibility of changing the scenario if the market situation changes abruptly. I'm aware of the possibility of a correction at any time, this should be taken into account, If the outlook changes I will publish a post with an update, so I encourage you to actively follow the profile and read the description carefully.
🚀 If you appreciate my work and effort in this post, I encourage you to leave a like and follow on my profile. 🚀
Cant'r help thinking the simple fact that Russia is talking about cutting production helps this too. Fundimentals.... Agree with you and this is bad for I flatiron, which could lead to higher rates later