🛢️ USOIL Attention Strong Wave Of Declines 🛢️
🛢️ USOIL Attention Strong Wave Of Declines
🛢️ Nearest strong support zone: around the bottom of the $70 level.
🛢️ Nearest strong resistance zone: around the fibo level 0.382 of the upward wave.
🛢️ Technical environment:
📊 Moving averages: Downtrend
📊 MACD: Downtrend
📊 RSI: Downtrend
🛢️ USOIL is again attacking in the south direction, it looks like this attempt at declines may be successful. After months of an upward breakout attempt that proved to be a failure, the price is once again gaining momentum and it looks like we will see new lows. An important support zone will be the area around the recent lows, but looking at the return of dollar strength which coincides with the weakness of the oil price, this could trigger a strong downward impulse that will take us to the recent lows.
📉 The scenario I'm playing out is a continuation of declines to the area of new lows. I don't exclude the possibility of changing the scenario if the market situation changes abruptly. I'm aware of the possibility of a correction at any time, this should be taken into account, If the outlook changes I will publish a post with an update, so I encourage you to actively follow the profile and read the description carefully.
🚀 If you appreciate my work and effort in this post, I encourage you to leave a like and follow on my profile. 🚀
🛢️ Nearest strong support zone: around the bottom of the $70 level.
🛢️ Nearest strong resistance zone: around the fibo level 0.382 of the upward wave.
🛢️ Technical environment:
📊 Moving averages: Downtrend
📊 MACD: Downtrend
📊 RSI: Downtrend
🛢️ USOIL is again attacking in the south direction, it looks like this attempt at declines may be successful. After months of an upward breakout attempt that proved to be a failure, the price is once again gaining momentum and it looks like we will see new lows. An important support zone will be the area around the recent lows, but looking at the return of dollar strength which coincides with the weakness of the oil price, this could trigger a strong downward impulse that will take us to the recent lows.
📉 The scenario I'm playing out is a continuation of declines to the area of new lows. I don't exclude the possibility of changing the scenario if the market situation changes abruptly. I'm aware of the possibility of a correction at any time, this should be taken into account, If the outlook changes I will publish a post with an update, so I encourage you to actively follow the profile and read the description carefully.
🚀 If you appreciate my work and effort in this post, I encourage you to leave a like and follow on my profile. 🚀
Note
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💲 To keep up to date with all my activities I invite you to visit my Telegram 💲
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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.
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💲 To keep up to date with all my activities I invite you to visit my Telegram 💲
💲 t.me/Investmatez 💲
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💲 To keep up to date with all my activities I invite you to visit my Telegram 💲
💲 t.me/Investmatez 💲
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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.