In July, we witnessed a remarkable surge, with oil prices soaring over 14%, marking the most substantial monthly percentage increase since January last year. A perfect blend of tighter supply and surging demand triumphed over concerns about potential interest rate hikes and lingering inflation, igniting economic growth prospects.
Adding to the excitement for...
With the 4% drop on Tuesday, it appears that USOIL is likely to experience some moderate fluctuations over the next few trading sessions. While there are a number of factors that could impact price action, it seems that the market is currently in a relatively stable state despite the dump.
I would like to outline three potential scenarios:
USOIL could see...
The market of USOIL is standing on it's resistance zone. If breakout occurred then we will see more bullish momentum on USOIL. SO better to watch the resistance zone for better earning.
As per the MACD indicator, it is showing bullish momentum to me. D1 candle is also in Bullish. So I believe it may give us handsome profit. Follow the trend line of your stop loss and take profit.
Oil is still bearish on the LTF, I want price to drop to the D point of this potential crab which is a nice PRZ, Oil is on a daily uptrend so this would complete a deep .886 pullback, along with an imbalance fill/liquidity tap.
