Short Term Up
USOIL seems to have finished a corrective structure to go higher. This is a common pattern that is formed in most of the corrections - a corrective up move. So short term could be up from here...
Note
US OIL did make the corrective up move and it reached the previous high. It might continue to move up further, but that seems limited. IF the whole pattern turns out to be a correction and IF its over, there's a likely chance that this will now move lower- in the same downward direction before the correction started.
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