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In my opinion this is a very good opportunity for a long entry once we exceed the high of February 8. I also showed some major support levels below for future reference. Don't listen to Kyle.
I am expecting this overall downtrend to continue and this is a good level to stop the pullback. Abandon this plan if we close above the double top level.
In my opinion the current economic framework is favorable for USOIL to continue its uptrend. My target is at around 62. I'll enter a long position after USOIL has broken out of the pennant and closed above 0.786.