USOIL potential double bottom pattern

Aug 30

On the 4-hour chart, USOIL has formed a potential double bottom pattern. The current market has stabilized and moved upward after falling back to 0.618. The current key resistance above is at 78.75. A breakthrough will hopefully open up the upward space. If the price falls below the 73.43 support, it will test the support near 71.15.