HI TRADERS,As you see in the 4H time frame, we are in a downtrend and price is moving inside a triangle pattern .
We can see that price is rejected from the triangle upper side and failed to break the last major high.
Currently, Price has broken the little ascending trend line and has been fixed below the trend line . It has pulled back strongly to the broken trend line and we should wait to see if it can break the last low for further drop.
If price breaks the last low, I expect a fall on USOIL to retest the triangle lower side...PEACE
We can see that price is rejected from the triangle upper side and failed to break the last major high.
Currently, Price has broken the little ascending trend line and has been fixed below the trend line . It has pulled back strongly to the broken trend line and we should wait to see if it can break the last low for further drop.
If price breaks the last low, I expect a fall on USOIL to retest the triangle lower side...PEACE