USOIL Triangle Pattern

2024년 1월 19일

Hi Traders!

A symmetrical triangle is forming on the USOIL 1D chart, and we could have a breakout soon.

Here are the details:

The market has found support and resistance at both the trendline support and trendline resistance of the triangle, as the market is looking for a direction. Looking at the price action, it looks bullish due to the market swings; the lows and highs are starting to get higher, and additionally, the market is above the 20 EMA.

As long as the market is still above the 20 EMA, our view will remain bullish. We expect some more consolidation before a possible third attempt at the trendline resistance.

Preferred Direction: Buy

Technical Indicators: 20 EMA

Resistance: 74.91
Support: 72.13

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Trade safely and responsibly.

BluetonaFX

2024년 1월 26일

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