Market Instrument: USOIL
Timeframe: Weekly
Analysis: Technical
Structure: Resistance Breakout and Pull Back
Prediction: Bullish
USOIL has successfully breached the resistance formed at 110 with a huge buying pressure with the war between Russia and Ukraine. So if the following price action is not going for a fake-out on the breakout formed. Then we may see a continuation of this bull rally towards the next resistance formed close to 146 which has happened during 2008. And fall hard rejecting at the 110 area will invalidate the setup.
Timeframe: Weekly
Analysis: Technical
Structure: Resistance Breakout and Pull Back
Prediction: Bullish
USOIL has successfully breached the resistance formed at 110 with a huge buying pressure with the war between Russia and Ukraine. So if the following price action is not going for a fake-out on the breakout formed. Then we may see a continuation of this bull rally towards the next resistance formed close to 146 which has happened during 2008. And fall hard rejecting at the 110 area will invalidate the setup.
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Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.