TREND-KEY
Long

USOIL broke the descending channel already!

TVC:USOIL   CFDs on WTI Crude Oil
In the previously published idea, I shared that USOIL made a nosedive and attempting to recover from this loss and it made a double bottom on the daily chart .

This week the asset has broken the downward channel as displayed in the attached chart. and it's riding the upward trend line .

USOIL has also broken the recent strong resistance at $52.12 after testing it several times.

It's likely to test this support again before continuing the bullish rally.

Watch out for the $52.65 - $52.70 price range to be broken!

Cheers!!

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