USOIL May Target 103 At Some Point

USOIL May Target 103 At Some Point.

An M pattern has been completed but because the price jumped sooner than expected from 76.48, this FCP zone is left with less strength. Because of that the market is finding it hard to make a good bullish move and is simply consolidating. Right now it is in a consolidation phase but has started to show a bullish structure. If this structure stays intact, USOIL can start to move higher in time.
There is a huge gap left above 100 around 103 level as we have a double top (liquidity area) around 93. USOIL at some point in time can target this leftover gap.

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The content on this analysis is subject to change at any time without notice and is provided for the sole purpose of education only.
Not a financial advice or signal. Please make your own independent investment decisions.
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