USOIL Structure (Wk. 3 Oct.)
Updated
USOIL is of interest this week as it's playing nicely towards this wedge drawn in the picture. This wedge is technically above the strong institutionalized price of 51, and above the shorter term 4-hrly support of 52.7. Longs from a retest of the ascending trend-line or long entries after the break of the descending (upper) trendline on the 1-hrly timeframe.
I will update when we've entered the trade for this commodity.
I will update when we've entered the trade for this commodity.
Trade active
Related publications
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.