This is my personal view on USOIL. The price could be in a descending channel but there is nothing back it up on the lows. The buyers keep pushing the price up without any pullbacks and so far showing strong momentum. It is possible that the momentum will decrease as sellers starts to kick in but so far no strong sellers to be seen.
Today USOIL did form a triangle on 30 min time frame as the buyers kept pushing the price higher and sellers was not able to get the price down. The breakout of the triangle has far accumulated 85 potential pips for those trading breakouts.
On the short term basis my view is up, unless sellers starts stepping up their game and show some muscles.
Today USOIL did form a triangle on 30 min time frame as the buyers kept pushing the price higher and sellers was not able to get the price down. The breakout of the triangle has far accumulated 85 potential pips for those trading breakouts.
On the short term basis my view is up, unless sellers starts stepping up their game and show some muscles.
Note
Idea is still in play
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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.