SellInstrument: USOIL
Position: Sell
Entry: 81.19
1st Target: 78.74
2nd Target: 76.06
Stop Loss: 83.64
Rationale:
USOIL is exhibiting signs of a bearish trend, supported by recent price action and fundamental factors.
Targets:
Our primary target stands at 78.74, representing a significant resistance level where we anticipate a price reaction. The secondary target is positioned at 76.06, indicating further potential downside momentum.
Stop Loss:
To manage risk effectively, a stop loss is placed at 83.64, just below the anticipated resistance level. This ensures a controlled exit in case of unexpected market movements.