Back in April I publicly called USOIL at $61 looking similar to Silver before a major expansion. Price pushed to $119.
The HTF narrative has now shifted. After that aggressive expansion, USOIL has been in a clear distribution phase. This week price rejected the 4H FVG cleanly — confirming the bearish continuation.
The weekly structure is now pointing directly toward the Previous Monthly Low at $80.44. That level has been the target since I outlined the retracement thesis on the monthly timeframe weeks ago. We are now getting the lower timeframe confirmation that delivery is underway.
The 4H FVG rejection this week is the signal. Weekly candle is now printing below the FVG — bearish continuation expected.
Watching for continuation lower toward PML $80.44 in the coming sessions. No long positions on USOIL until that level is reached and confirmed with a market structure shift.
Bias: Bearish
Active POI: 4H FVG rejection confirmed
Target: PML $80.44
Invalidation: Weekly close back above the 4H FVG
Not financial advice — just my analysis.
The HTF narrative has now shifted. After that aggressive expansion, USOIL has been in a clear distribution phase. This week price rejected the 4H FVG cleanly — confirming the bearish continuation.
The weekly structure is now pointing directly toward the Previous Monthly Low at $80.44. That level has been the target since I outlined the retracement thesis on the monthly timeframe weeks ago. We are now getting the lower timeframe confirmation that delivery is underway.
The 4H FVG rejection this week is the signal. Weekly candle is now printing below the FVG — bearish continuation expected.
Watching for continuation lower toward PML $80.44 in the coming sessions. No long positions on USOIL until that level is reached and confirmed with a market structure shift.
Bias: Bearish
Active POI: 4H FVG rejection confirmed
Target: PML $80.44
Invalidation: Weekly close back above the 4H FVG
Not financial advice — just my analysis.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.