USOIL is currently in a long-term uptrend within a rising channel pattern.
Following a failed attempt to break through the 84.30 resistance level, the market has entered a consolidation phase.
The price has broken below both the range support and the parallel channel support, indicating a potential shift towards a minor downtrend.
I anticipate a bearish continuation towards the 81.18/80.98 levels.
For potential entry points, look for a retest of the broken trend support.
Following a failed attempt to break through the 84.30 resistance level, the market has entered a consolidation phase.
The price has broken below both the range support and the parallel channel support, indicating a potential shift towards a minor downtrend.
I anticipate a bearish continuation towards the 81.18/80.98 levels.
For potential entry points, look for a retest of the broken trend support.
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Join our Telegram channel for daily market update 👇👇
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For paid signal👇👇 t.me/linofx1999
t.me/TheAceTrading
For paid signal👇👇 t.me/linofx1999
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.