USOIL Long-Term Trend: Bullish
Key Resistance Levels: 69.52, 70.77, 74.18.
Key Support Levels: 67.72, 66.29, 66.00.
The price on the higher time frame failed to break the 61.79 USD mark by posting an engulfing bullish patter which led to a reversal. The price is in clear upward movement now where the buyers are in control of the market.
USOIL Medium-Term Trend: Bullish
On the lower time frame, the price posted a correction count to the strong support around the 67.15 USD. This support coincide with a 61.80% Fibonacci retracement which could lead to a move upward in the same direction of the main trend.
Buy Limit Order @ 67.72
TP 1 @ 69.52
TP 2 @ 70.77
Stop Loss @ 67.07
Trade Safely 🙂