USOIL 🎯 The Insider's Guide to Oil

Bias:
🔞Just a brief overview of Oil with two potential outcomes, the bullish being much more optimistic so be cautious bulls.

note* This is a new "quick and dirty" formating style that contains only the bare minimum context needed to give us the ability to push out some quick outlooks that don't require as much in-depth research and evaluation such as what you see on a regular basis from us. Let us know what you think in the comments about this approach if you have any feedback :)


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Support:

• S1: This is a not as obvious as S2 but still quite clear when highlighted as to be a price pivot point. It currently contains an S/R flip that has yet to be invalidated.
  
  
• S2: Very recognizable price pivot point and likely to come into play if we do retest the bottom range of Oils current up-trending price action. Though I would caution anyone trying to catch a falling knife here and much rather say this is a level of interest to keep your eye on for how price reacts here.
  
  
  Resistance:
  
• R1: Bearish S/R flip that is likely to see a reaction from the price on the way back up to retreat the point of break down.
  
  
• R2: Dead cat bounce swing high, this will be a noticeable level of interest for any bears looking to short this resting orderblock.
  
  
• R3: Orderblocks resting at the prior swing high range, a pretty clear range of interest for the bears.
  

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