On the 4-hour chart, USOIL stabilized and then moved upwards, forming a head and shoulders bottom pattern in the short term. Currently, watch for support around 59.0; a pullback and stabilization after this level could present a buying opportunity. Resistance is seen around 61.0.
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Disclaimer
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.