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I expect USOIL to go UP after finishing this correction.
Look for your BUY setups.
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Disclaimer: This is just an idea. Please do your own analysis before opening a position. Always use SL & proper risk management.
US oil overall trend is still bearish, but counter trend pull back rally is now due, not only due but it's now ready to go towards north directions
Buy on Dips is suggested, all the key levels are mentioned on chart
Overall running wave structure
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US OIL 🛢 gave a 2.57% in short time going to reach our previous analysis of double bottom neckline if it brake neck line so we can expect a huge uptrend
commend which script to analysis
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Us Oil is in Daily Resistance after a breakout towards upwards it stared to give correction .Either it will be sideways for somedays otherwise it will reach upto 66 region in the daily breakout for retest then it will strated to push up
Price breaks the trend line strong and trying to break the first resistance to reach the second one which is seen more stronger than its counterpart.
As if now things looking good for those who took long position well before, for the new entries wait for the price to break and close above the first resistance for the target of second.
Price moving inside a small box after the big up movement, in other words price is getting ready for a big movement when it breaks the box.
Price now reached the bottom of the box and one can expect the price to break the trend line and reach the top of the box.
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Price gently rejecting from the trend line for a long period of time and now the price will reach the trend line to make or break !!!
Traders can have a better look when it reaches the trend line, as if now you know what to do positionally !!!