OIL_CRUDE capitulating under pressure from Macro-Economic headwinds.Bearish H&S development. Waiting for price action to either break/close below (higher timeframes), or break & re-test Neckline Support to trigger pattern confirmation.
Extrapolation = Golden Fib target zone.
Notes:
- Neckline + 50WEMA/100WEMA crossover confluence
- 38.2% Fib + 50DEMA confluence
- Demand Zone (white box) + 200DMA, 100DEMA, 20WEMA confluences
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USOIL UKOIL CL1! CL2! 
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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.