Nasdaq 100 4H — Bulls Hold the RangeNasdaq 100 4H — Bulls Hold the Range, But 30,000 Remains the Key Breakout Level
Market View
Nasdaq 100 is currently trading around the 29,800–29,900 area on the 4H chart. After a strong rally from the April low near 23,000, the index pushed aggressively higher and reached the 30,500–31,000 region before entering a consolidation phase.
The broader structure still remains constructive, but the latest price action shows that the market is no longer moving in a clean one-way uptrend. Instead, the Nasdaq 100 has been moving sideways between the 29,000 support area and the 30,500 resistance zone.
Right now, the index is testing the upper side of this short-term range again. If buyers can reclaim 30,000 and break above the recent resistance zone, bullish momentum may return. If not, price may continue to rotate inside the current consolidation structure.
Key Areas
From a market structure perspective, the Nasdaq 100 remains in a bullish structure overall, but the short-term trend is currently range-bound.
The strong recovery from the 23,000 area created a clear bullish impulse, with price forming higher highs and higher lows through April and May. However, after reaching the 30,500–31,000 zone, the index started to lose momentum and entered a choppy consolidation phase.
The first key resistance zone is 30,000–30,200. This is the immediate area buyers need to reclaim to improve short-term momentum.
Above that, the next important resistance zone is 30,500–31,000. This is the recent upper range, and a breakout above this area would confirm stronger bullish continuation.
If the index breaks above 31,000 with strength, the next upside target could be 31,500–32,000.
On the downside, the nearest key support zone is 29,300–29,000. This area has been defended several times recently and remains important for keeping the current range structure alive.
Below that, 28,500–28,200 becomes the next major support zone. If this area fails, the index may enter a deeper correction toward 27,500–27,000.
Forward Outlook
For the bullish scenario, the Nasdaq 100 needs to hold above 29,300–29,000 and break above 30,000–30,200 with confirmation. If buyers manage to do that, the index may retest 30,500–31,000.
A clean breakout above 31,000 would suggest that the consolidation phase is ending, and price may extend toward 31,500–32,000.
For the bearish scenario, if the Nasdaq 100 fails to hold above 29,000, short-term selling pressure may return. In that case, price could move back toward 28,500–28,200.
A clean break below 28,200 would weaken the current bullish structure and may open the door for a deeper pullback toward 27,500–27,000.
Market Sentiment
Market sentiment is currently neutral to cautiously bullish.
The broader trend still favors buyers, but the index needs to break above 30,000–30,200 before bullish momentum becomes more convincing. Until then, the Nasdaq 100 may continue to trade inside a consolidation range.
Above 30,200, recovery momentum may improve.
Above 31,000, bullish continuation may strengthen.
Below 29,000, short-term correction risk may increase.
Please share your view below:
Will the Nasdaq 100 break above 30,200 and retest the 31,000 resistance zone? Or will sellers defend the upper range again and push the index back toward 29,000? MASON XAUUSD – Trendline Break May Target Fibonacci
XAUUSD is trading around 4,071 after losing short-term recovery momentum near the Ichimoku structure. Price is now testing the rising trendline support, and the early-week focus is on whether gold can hold this structure or break lower.
The priority view is bearish if gold breaks below the trendline and strong support area. A clean breakdown may open the way toward the Fibonacci extension targets.
Technical View
Gold is currently moving inside a tightening structure between the descending resistance line and the rising trendline support. This shows that price is being compressed before a stronger move.
The short-term recovery has failed to break clearly above the Ichimoku resistance. Price remains under pressure near the cloud, which means buyers have not fully regained control. As long as gold stays below the Ichimoku resistance and below the FVG sell order zone, the upside remains limited.
The 4,100–4,106 area is the main FVG sell order zone on the chart. This zone is important because it aligns with the short-term resistance structure, Ichimoku pressure, and the descending trendline area. If gold retests this zone and rejects, it may confirm another lower high before the next bearish leg.
The 4,055–4,065 area is the strong support zone and also connects with the rising trendline. If price breaks below this area, the bullish correction structure may fail. That would confirm a trendline break and shift the short-term market back into stronger bearish continuation.
The first downside target is the Fibonacci 1.618 extension around 4,015–4,020. If selling pressure continues after breaking support, the next deeper target may be the Fibonacci 2.618 area around 3,950–3,960.
Key Zones
Current price: 4,071
FVG sell order zone: 4,100–4,106
Ichimoku resistance area: 4,085–4,111
Strong support: 4,055–4,065
Trendline breakdown zone: below 4,055
Fibonacci 1.618 target: 4,015–4,020
Fibonacci 2.618 target: 3,950–3,960
Invalidation: above 4,116
Trading Plan
Sell Priority: 4,100–4,106
Condition: wait for bearish rejection from the FVG sell order zone, failed recovery above Ichimoku, or a clean break below the rising trendline support.
SL: above 4,116
TP1: 4,055–4,065
TP2: 4,015–4,020
TP3: 3,950–3,960
Alternative Scenario
If gold breaks below 4,055 directly at the start of the week, wait for a retest of the broken trendline or support zone as resistance before looking for sell continuation toward the Fibonacci 1.618 target.
Buy View
Buy is not the priority while price stays below the FVG sell order zone and Ichimoku resistance. A short-term buy reaction may appear around 4,015–4,020, but it needs clear bullish confirmation first.
Final View
Overall, gold is still under short-term bearish pressure. The key point for the start of the week is the rising trendline support. If gold breaks below 4,055–4,065, the correction structure may fail and the downside path toward 4,015 and 3,950 becomes more realistic.
Will gold break the trendline early next week, or retest the FVG sell order zone before moving lower?
Short
S&P 500 4H — Bulls Retest the HighsS&P 500 4H — Bulls Retest the Highs, Can the Index Break Above 7,600?
Market View
The S&P 500 is currently trading around the 7,570 area on the 4H chart, showing a strong recovery after the previous pullback toward the 7,300–7,350 zone. Buyers stepped back in from that support area and pushed the index back toward the recent high near 7,600.
The overall structure remains constructive. The index has recovered strongly from the earlier correction and is now testing the upper side of the recent range again. However, price is approaching a key resistance area, so the next reaction will be important.
If buyers can break above 7,600 with confirmation, the bullish trend may continue. If the index fails again near this zone, a short-term pullback or consolidation may appear.
Key Areas
From a market structure perspective, the S&P 500 remains in a bullish structure on the 4H chart. The index has been forming higher highs and higher lows since the strong recovery from the lower area near 6,300–6,400.
The recent pullback did not break the broader bullish structure. Instead, price found support around 7,300–7,350 and recovered back toward resistance. This suggests that buyers are still active on dips.
The first key resistance zone is 7,580–7,620. This is the current upper range and the area buyers need to clear to confirm bullish continuation.
If price breaks above this zone, the next resistance area is around 7,700–7,800. A stronger upside extension could bring the index toward 7,900–8,000.
On the downside, the nearest key support zone is 7,450–7,400. Holding above this area would keep short-term bullish momentum intact.
Below that, 7,350–7,300 is the more important support zone. This is where buyers previously defended the market. If that zone breaks, the index may enter a deeper correction toward 7,200–7,150.
Forward Outlook
For the bullish scenario, the S&P 500 needs to hold above 7,450–7,400 and break above 7,580–7,620 with confirmation. If this happens, buyers may push the index toward 7,700–7,800.
If momentum remains strong above 7,800, the next upside target could be 7,900–8,000. A sustained move above 8,000 would confirm a stronger bullish continuation structure.
For the bearish scenario, if the index rejects from 7,580–7,620 and falls below 7,400, short-term momentum may weaken. In that case, price could move back toward 7,350–7,300.
A clean break below 7,300 would suggest that the current breakout attempt has failed, and the index may move lower toward 7,200–7,150.
Market Sentiment
Market sentiment is currently bullish, but slightly cautious near resistance.
Buyers remain in control overall, and the recovery from the recent pullback shows that demand is still strong. However, the index is now retesting the previous high area, so confirmation above 7,600 is needed before the next bullish leg becomes more convincing.
Above 7,620, bullish momentum may strengthen.
Below 7,400, short-term pullback risk may increase.
Please share your view below:
Will the S&P 500 break above 7,600 and continue toward 7,800–8,000? Or will sellers defend the resistance zone and push the index back toward 7,300? GBP/USD 4H — Recovery Holds Above SupportGBP/USD 4H — Recovery Holds Above Support, But Bulls Need to Clear 1.3450
Market View
GBP/USD is currently trading around the 1.3370–1.3380 area on the 4H chart. After forming a local bottom near 1.3150–1.3180, the pair has been recovering gradually and recently pushed toward the 1.3420–1.3450 resistance area.
The recovery structure is still visible, but the latest pullback shows that buyers have not fully taken control yet. Price is holding above the previous breakout area, but the market needs a stronger move above resistance before the bullish scenario becomes more convincing.
Right now, GBP/USD is in a key short-term decision zone. If buyers defend the 1.3350 area and push the price back above 1.3450, the recovery may continue. If not, the pair may fall back into a deeper correction.
Key Areas
From a market structure perspective, GBP/USD has shifted from a previous bearish structure into a short-term recovery phase. The pair is no longer making fresh lows, and the recent sequence shows higher lows from the 1.3150–1.3180 base.
However, the broader structure is not fully bullish yet. The 1.3420–1.3450 area remains an important resistance zone. Price recently reacted from this region, which means sellers are still active near the upper range.
The first key resistance zone is 1.3420–1.3450. If GBP/USD breaks above this area, the next upside target would be 1.3500–1.3550. A stronger bullish continuation would require the price to reclaim 1.3600–1.3650.
On the downside, the nearest key support zone is 1.3350–1.3320. Holding above this area would keep the recovery structure alive. If this zone breaks, the next support area is 1.3250–1.3220, followed by 1.3180–1.3150.
Forward Outlook
For the bullish scenario, GBP/USD needs to hold above 1.3350–1.3320 and break above 1.3420–1.3450 with confirmation. If this happens, buyers may push price toward 1.3500–1.3550.
If the pair continues to hold above 1.3550, the recovery may extend toward 1.3600–1.3650, where the next major resistance could appear.
For the bearish scenario, if GBP/USD fails to break above 1.3420–1.3450 and falls below 1.3320, short-term recovery momentum may weaken. In that case, price could move back toward 1.3250–1.3220.
A clean break below 1.3180–1.3150 would suggest that the recovery structure has failed and that sellers may regain control.
Market Sentiment
Market sentiment is currently neutral with a cautious bullish recovery bias.
Buyers have managed to build a recovery from the lows, but the pair still needs to break above 1.3450 to confirm stronger upside momentum. Until then, the market may continue to move between support and resistance.
Above 1.3450, recovery momentum may improve.
Below 1.3320, short-term bearish pressure may return.
Please share your view below:
Will GBP/USD defend the 1.3320–1.3350 support zone and break above 1.3450? Or will sellers defend resistance again and push the pair back toward 1.3250? EUR/USD 4H — Bearish Pressure RemainsEUR/USD 4H — Bearish Pressure Remains, Can Buyers Defend the 1.1350 Support Zone?
Market View
EUR/USD is currently trading around the 1.1390–1.1400 area on the 4H chart. After a clear decline from the upper range near 1.1750–1.1800, price has been moving lower step by step, forming a broader bearish structure.
The pair recently attempted to stabilize after finding support near the 1.1330–1.1350 area, but the recovery has been limited so far. Buyers are attempting to defend the lower range, while sellers remain near the 1.1430–1.1450 resistance zone.
Right now, EUR/USD is sitting in a key decision area. If buyers can hold the lower support and reclaim resistance, a short-term recovery may continue. If not, the pair may return to downside pressure.
Key Areas
From a market structure perspective, EUR/USD remains in a bearish-to-neutral structure. The broader trend still shows lower highs and lower lows, which means sellers have controlled most of the recent movement.
The first key resistance zone is around 1.1430–1.1450. This is the nearest area where sellers have recently defended the price. If EUR/USD breaks above this zone, the next resistance area would be 1.1500–1.1530.
A stronger recovery would require the price to reclaim the 1.1580–1.1600 area. Until then, the broader bearish structure remains active.
On the downside, the nearest support zone is 1.1380–1.1350. If buyers defend this area, EUR/USD may continue consolidating and attempt another recovery. Below that, 1.1330–1.1300 becomes the next key support zone.
If 1.1300 breaks clearly, the market could open the way toward 1.1250–1.1230.
Forward Outlook
For the bullish scenario, EUR/USD needs to hold above 1.1380–1.1350 and break above 1.1430–1.1450 with confirmation. If this happens, buyers may push the price toward 1.1500–1.1530.
If the pair can continue holding above 1.1530, the recovery may extend toward 1.1580–1.1600. That area would be important for judging whether the broader structure is starting to improve.
For the bearish scenario, if EUR/USD fails to break above 1.1430–1.1450 and falls below 1.1350, sellers may regain stronger control. In that case, price could retest 1.1330–1.1300.
A clean break below 1.1300 would weaken the current consolidation and may bring further downside pressure toward 1.1250–1.1230.
Market Sentiment
Market sentiment is currently neutral to cautiously bearish.
Buyers are trying to defend the lower support area, but the pair has not yet shown enough strength to confirm a real bullish reversal. The market still needs a clear breakout above resistance before the recovery becomes more convincing.
Above 1.1450, recovery momentum may improve.
Below 1.1350, bearish pressure may return.
Please share your view below:
Will EUR/USD defend the 1.1350 support zone and recover toward 1.1500? Or will sellers break support and push the pair toward 1.1300? Gold (XAUUSD) Bullish Continuation After CHOCH | SMC Setup📊 Market Context & Technical Analysis
Looking at the XAUUSD 30-minute chart, we can see a clear structural shift from bearish to bullish, providing a high-probability long setup.
Market Structure Shift: After a period of downside movement marked by a Break of Structure (BOS) and a Market Structure Shift (MSS), price found a solid bottom around the 4,020 area.
Change of Character (CHOCH): A powerful impulsive move to the upside broke previous minor swing highs, confirming a CHOCH and transitioning the local trend back to bullish.
Trendline Support: The market has established a clear ascending support line, which price has respected multiple times.
Demand Zone Confluence: Price is currently retracing and compressing right into a freshly formed Demand Zone (approx. 4,100 - 4,106). This zone perfectly aligns with the dynamic ascending trendline support, offering strong confluence for a long entry.
🏹 The Trade Execution Plan
We are looking for a bullish reaction within the identified demand zone to ride the next impulse wave upward.
Direction: Long 🟢
Entry Zone: 4,100 - 4,106 (Within the highlighted blue Demand Zone)
Invalidation / Stop Loss (SSL): Below the recent swing low structure around 4,073 (Sell-Side Liquidity level).
Take Profit / Target (BSL): 4,138 (Targeting the Buy-Side Liquidity sitting at the recent swing high).
⚠️ Risk Disclaimer
Always wait for lower timeframe confirmation (e.g., a 1m to 5m CHOCH or bullish engulfing candle) inside the demand zone before executing to minimize risk. Manage your risk properly and never risk more than your plan allows. Long 
Long 
Long
BTCUSD H1: Road to 67K or Drop to 62K?BTCUSD H1: Bulls at Decision Point — Break Above 64,700 or Pullback Ahead?
Bitcoin is trading around 64,126, sitting just below the 64,700 resistance zone. This area is the key decision point for the next major move.
🟢 Bullish Scenario:
A clean breakout and hold above 64,700 could trigger a continuation toward:
65,602
66,420
67,282
Momentum remains constructive as long as buyers defend the 63,700–63,900 demand zone on any retracement.
🔴 Bearish Scenario:
If BTC fails to reclaim 64,700 and loses the demand zone, sellers could regain control with downside targets at:
62,488
61,273
57,783
👀 Key Levels
🟢 Support: 63,700–63,900
🔴 Resistance: 64,700
🎯 Bullish Targets: 65,602 → 66,420 → 67,282
⚠️ Bearish Targets: 62,488 → 61,273 → 57,783
The reaction around 64,700 will likely determine whether BTC resumes its uptrend or enters a deeper correction. Patience and confirmation are key. XAUUSD 1H: Demand Zone Reactivation After MSSExecutive Summary
The XAUUSD 1H chart demonstrates a classic structural shift following a period of distribution at the highs. After a clear Break of Structure (BOS) to the upside, price established a temporary peak before shifting lower, executing a Market Structure Shift (MSS) and a liquidity sweep at line X. Price has now tapped into a newly formed Demand Zone, showing an immediate bullish reaction with an expected target toward the premium Supply Zone above.
Technical Breakdown
Market Structure Shift (MSS): Following the initial bullish continuation (BOS), the market failed to sustain higher prices, putting in a distribution pattern. The aggressive push down violated the recent swing lows, confirming a bearish Market Structure Shift (MSS) on the hourly timeframe.
Liquidity Sweep (Line X): The downward expansion effectively swept sell-side liquidity resting below the key structural level marked as 'X'. This sweep successfully engineered the necessary liquidity to mitigate a deep demand pocket.
Demand Zone Mitigation: Price tapped cleanly into the 1H Demand Zone ($4,050 - $4,090) and immediate buying pressure stepped in, leaving a sharp rejection and a minor structural turnaround.
Upside Target (Supply Zone): The primary objective for this structural bounce is the unmitigated 1H Supply Zone resting around the $4,140 level, which aligns with the origin of the aggressive MSS drop.
Trading Plan
Bias: Bullish (Intraday Retracement)
Entry Range: Within the current 1H Demand Zone confirmation area ($4,080 - $4,100)
Invalidation: A clean hourly close below the demand zone low ($4,050)
Take Profit Target: $4,140 (1H Supply Zone) Long 
Short
CRM - Long-Term Bullish Structure at Key Support!CRM (Salesforce, Inc.) is one of the world's leading cloud-based software companies, providing customer relationship management (CRM) solutions that help businesses manage sales, marketing, customer service, and business operations.
From a long-term perspective, the stock remains overall bullish, continuing to respect the red ascending broadening wedge that has guided price action since 2018.
The current decline appears to be a corrective phase, with price moving inside the blue descending channel. It has now reached a key technical area where the lower boundary of the broadening wedge aligns with a strong support and demand zone.
⭕As long as this support area continues to hold, we can start looking for buy setups on lower timeframes. A break above the green trigger area around 210 would provide the first strong confirmation that buyers are regaining control and that the next bullish leg may be underway.
⭕However, if price breaks below the current support zone, the focus shifts toward the next major support area between 65 and 85, where another buying reaction may develop.
The reaction from this support area may reveal whether the current correction is approaching its end, or if sellers can extend the decline toward the next long-term support zone.
⚠️ Disclaimer: This analysis reflects my personal market view and is not financial advice.
Rayan Nasser
#CRM #Salesforce #Stocks #Investing #TechnicalAnalysis #PriceAction #MarketStructure #CloudComputing 
Long
XAUUSD — Recovery First, Bearish Rejection Later
Fundamental Analysis
Gold remains sensitive to USD momentum, Treasury yields, and upcoming U.S. macro data. For next week, price may create a technical recovery first, but the larger structure still shows bearish pressure while gold stays below the main descending trendline.
Technical Analysis
On the 12H chart, XAUUSD is trading around 4,120 after holding above short-term support. The first upside area to watch is 4,204, which acts as strong resistance. If price continues higher, the major sell zone is around 4,300 - 4,310, where Fibonacci resistance, previous structure, and the descending trendline align. A rejection from this area could send gold back toward 3,942, then the deeper Fibonacci target near 3,754.
Important Key Levels
Current price: 4,120
Short-term resistance: 4,204
Main sell zone: 4,300 - 4,310
Strong support: 3,942
Main Fibonacci target: 3,754 - 3,751
Invalidation: above 4,310
Trading Scenario
Main Sell Setup
Entry: 4,300 - 4,310
Stop Loss: 4,360
Take Profit 1: 4,204
Take Profit 2: 3,942
Take Profit 3: 3,754 - 3,751
Sell Condition
Wait for gold to recover toward the 4,300 - 4,310 Fibonacci sell zone. A valid sell setup needs bearish rejection from this area, such as a long upper wick, failed breakout, or bearish candle close below the zone. If price rejects and breaks back below 4,204, the bearish continuation view becomes stronger. If price breaks and holds above 4,310, the sell setup is invalid.
Overall View
The main plan for next week is not to sell too early at the current price. Gold may rise first toward 4,204 or even 4,300 - 4,310 before sellers return. As long as price stays below the descending trendline and rejects the Fibonacci sell zone, the larger downside target remains 3,942 and 3,754.
Do you share the same view that gold may recover first before the next bearish move?
Short 
Education 
Short
RIVN 1W: When an electric vehicle becomes a businessNASDAQ:RIVN
Rivian builds electric vehicles and commercial vans in the US: the R1T, R1S, EDV for Amazon, and the mass-market R2, whose first units began reaching customers on June 9, 2026. The company trades on Nasdaq.
Operational turning point
On July 2, Rivian released its Q2 production and delivery numbers. It produced 12,613 vehicles and delivered 12,194, beating its own guidance of 9,000–11,000 units. Full-year delivery guidance was raised from 62,000–67,000 to 65,000–70,000 vehicles. Preliminary Q2 revenue came in at $1.55–1.65 billion, above the analyst consensus of $1.45–1.46 billion. The full financial report is due on July 30.
The key fundamental fact the market still underestimates is that in Q1 2026, Rivian posted its first-ever positive gross profit of $119 million on revenue of $1.38 billion. Before that, the company had been losing money on every vehicle sold for years.
Equity offering and DOE loan
On July 7, Rivian priced a public offering of 75 million shares at $15.50. Underwriters fully exercised their option on July 8, bringing the final total to 86.25 million shares. Net proceeds were approximately $1.32 billion. The funds will be used to finance obligations under a $4.5 billion US Department of Energy loan to build a plant in Georgia, which will increase total capacity to 300,000 vehicles per year. The offering triggered a drop of more than 15% on the announcement day. This was a capital raise at a time of operational strength, not a distress sale, exactly what a capital‑intensive growth company should do.
Valuation
After the post‑offering drop, the market offers the following multiples: market cap around $21 billion, enterprise value around $21.5 billion. The trailing P/S is approximately 3.8 on annual revenue of $5.53 billion. Cash per share stands at about $3.77 after accounting for $6.6 billion in debt, implying net debt of roughly $1.8 billion after the offering proceeds. On an EV/Sales basis, the company trades below 4.0, which for an EV maker with a first‑ever positive gross margin looks significantly cheaper than a year ago.
Shareholder structure
Major strategic shareholders include Volkswagen AG with 16.4% of shares under a $5.8 billion investment agreement, and Amazon holding about 12.8% while also being a key commercial customer for EDV vans. Institutional investors include Vanguard and BlackRock. Total institutional ownership is around 52–57% of the float. Having two top‑tier strategic corporate partners is rare for a company of this market cap.
Short interest
Short positions represent 11.74% of the float, or about 150 million shares. This is a significant level that could add upside momentum on a strong catalyst. The next catalyst is the July 30 earnings report.
Risks
Despite the historic gross profit, adjusted EBITDA in Q1 was negative $472 million. Total debt of $6.6 billion combined with operating cash flow of negative $703 million per quarter requires constant monitoring of the cash burn rate. The offering diluted existing shareholders by about 6%.
Technicals – weekly timeframe
On the weekly chart, a trend reversal has been confirmed. Price has settled above all key moving averages. On the daily chart, a breakout and retest of the local downtrend line have been confirmed. On the weekly scale, a clean breakout and retest of horizontal resistance at $17.15–$17.48 has occurred, which now acts as support.
MACD sits at 0.3760 in positive territory with a bullish crossover. ADX at 17.58 signals a developing trend, with buyers dominating: DI+ at 29.80 vs DI− at 17.77. Average daily volume of about 57.33 million shares confirms institutional interest. The current zone of $17.15–$17.60 represents an optimal entry point. The target based on the pattern height is $35.55, implying 107% upside. A stop‑loss should be placed on a daily close below $14.00.
First‑ever gross profit, a delivery beat 20% above guidance, $7 billion in liquidity, Volkswagen and Amazon as strategic shareholders, and 11.74% short interest ready to cover on positive catalysts. The July 30 report will show whether the market is ready to re‑rate the story. 
Long
USOIL: Short from pullback🎯 Trade setup:
Direction: Short from pullback
🔻 Entry: 7,220–7,280
🛑 Stop Loss: 7,360
🎯 Take Profit 1: 7,080
🎯 Take Profit 2: 7,020
📰 News:
USOIL remains supported by the Middle East risk premium, with WTI still on track for a weekly gain as U.S.–Iran tensions keep supply fears alive. However, prices have started to cool after the recent spike, as the market hopes tensions may stay contained and talks could restart.
📊 Analysis:
On the 1H chart, USOIL rejected the strong resistance near 7,580 and pulled back toward 7,180. The price is now below EMA 9 and EMA 20, while SMA 50 near 7,320 acts as the next important resistance.
Momentum is cooling: RSI is around 42, and MACD is trying to recover but has not confirmed a bullish reversal yet. As long as price stays below 7,320–7,360, sellers may keep control short term.
Scenario :
If USOIL fails to reclaim 7,320, the correction may continue toward 7,080–7,020.
A bullish scenario would require a clean recovery above 7,360. In that case, price could retest 7,450 and 7,580.
⚠️ Not financial advice. 
Short
