Hello my friends,
It's another technical analyse on USOIL with little extra fundamental factors.
Our last Analyse on USOIL goes very well and know it's time for another rally in USOIL.As you see in chart a break out of bullish wedge and after that forming a bullish triangle is obvious and this support area says we need another impact with channel highest resistance and maybe after that dropping of channel.
USA will start OIL sanctions of IRAN in 2 stage at 6 August and next November,this case plus latest attacks in Bab-Al-Mandab strait that put Saudi Arabia's Oil in problem will help USOIL to rise again,at the end.
I will update this idea as soon as i see a new sign.
Good Luck
Peyman A
It's another technical analyse on USOIL with little extra fundamental factors.
Our last Analyse on USOIL goes very well and know it's time for another rally in USOIL.As you see in chart a break out of bullish wedge and after that forming a bullish triangle is obvious and this support area says we need another impact with channel highest resistance and maybe after that dropping of channel.
USA will start OIL sanctions of IRAN in 2 stage at 6 August and next November,this case plus latest attacks in Bab-Al-Mandab strait that put Saudi Arabia's Oil in problem will help USOIL to rise again,at the end.
I will update this idea as soon as i see a new sign.
Good Luck
Peyman A
Comment:
Good Strength in USOIL,now it's time to test triangle as support before continue.
Comment:
Holy sh-- oil reached support line,have much possibility to reach blue trend line around 66.This was a bad TA and was soon for long,i think we are just closing to spot that must enter the long position after that.
