On the 4-hour chart, USOIL faced resistance and pulled back after testing a previous supply zone, with short-term price action forming a potential bearish Bat pattern. Short positions may be considered, targeting the 78.6 level. A breakout above the resistance near 85.4 would signal a return to a bullish trend.
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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.