USOIL has been taking support from a long-term rising trendline. The oil is also trading in short-term bullish parallel channel.
We are expecting a breakout above 115 for an upside target of 130.
Alternatively, horizontal support is present at 96. which should be used as a strict stop-loss.
A break below the level will be all over for the bulls.
We are expecting a breakout above 115 for an upside target of 130.
Alternatively, horizontal support is present at 96. which should be used as a strict stop-loss.
A break below the level will be all over for the bulls.
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Related publications
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.