Hello Traders,
So today im going to talk about USOIL.
After yesterday news, in a weekly timeframe the price started to decline,
rejecting the previous support level that has been broken in march.
Now we have the pullback in the same value zone,
so the previous support level is turning into a new resistance.
In a 4H timeframe, the price break the uptrend line that i have draw
on the chart, wait for price to pullback at 41.00 level.
Entry: 41.00
SL: 42.00
TP: 30.00
R/R : 11
So today im going to talk about USOIL.
After yesterday news, in a weekly timeframe the price started to decline,
rejecting the previous support level that has been broken in march.
Now we have the pullback in the same value zone,
so the previous support level is turning into a new resistance.
In a 4H timeframe, the price break the uptrend line that i have draw
on the chart, wait for price to pullback at 41.00 level.
Entry: 41.00
SL: 42.00
TP: 30.00
R/R : 11