USOIL (04/03/22) - Active (Open Market Performance)

1. Minor variations in values of pricing levels.

2. Prices now are still fluctuating in the correction zone between $108.6x and $104.6x.

3. RSI shows that the bulls are active when the market starts. First uptrend confirmed if the price exceed the first resistant line (first target) above $108.6x and break the major trend line as well.

4. Breaking the $111.1x line (second target) means that prices will continue the journey successfully to the 161.8% level (third target).

5. At the 161.8% level, the battle will start between bulls and bears as this level is a strong resistant line by default.

6. Penetrating the 161.8% level means the third target @ $115.xx achieved and the prices comfortably will pass to hit the main target @ 261.8% level reaching around $125.5x.

7. Condition to fulfill $125.5x price requires a long-term investment traders while prior targets are suitable for short-term traders.

8. For short-term traders, entry points are the boundary lines between targets in the resistant (red) zone if the gradual uptrend explained in previous notes move normally.

9. Achieving the $125.5x price may occurs by the end of the day (optimistic) or probably at the start trading of the next day if prices will close at level above $115.xx.

Tools used are Fib pattern, ZigZag ++, BB indicator, and RSI indicator.