On the daily timeframe, we anticipate two possible scenarios for USOIL’s movement. In the red-labeled scenario, USOIL is expected to undergo a correction to test the 63.71–64.03 area. However, in the best-case scenario, if USOIL manages to hold above 64.03, it has the potential to strengthen toward the 68.27–72.53 range.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.