USOIL on the 4h chart has bounced over the monthly support and broke the descending channel.
The price after the bounce create a move to the upside where it broke the downtrend and potentially could see a new trend to the upside.
Infact both the break of the channel and the "new" recent high are supporting this fact together with a test of the 50% move of the bullish impulse.
We will wait for a potential break of the 4h resistance and the confirmation of the Plancton0s strategy to look for a nice buying order.
The price after the bounce create a move to the upside where it broke the downtrend and potentially could see a new trend to the upside.
Infact both the break of the channel and the "new" recent high are supporting this fact together with a test of the 50% move of the bullish impulse.
We will wait for a potential break of the 4h resistance and the confirmation of the Plancton0s strategy to look for a nice buying order.
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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.