USOIL has been going through hard times after being rejected at the gap area mentioned in earlier posts. It has now approached an area of buyers' interest it seems. The $50 mark failing to support the price can be interpreted as a longterm 38.20% pullback continuation sell setup. For now, the 5125 area is of interest, if that goes, the 5050 area.
Note
Touched 5122 and demand rushed inNote
A full 360º rotation on Square of 9 achieved. Perhaps another push, but long short risk is increasing at these levels.
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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.