This is not a trading advice. It's just my idea of trading USOIL.
I'm following this channel and it worked so far.
Considering the EU Covid Salvation deal, I see no reason for USOIL to drop hard.
I expect it to drop around $1, to $40, where the middle of the channel is.
Afterwards, I hope it goes up to $43,5. There, we have the fib and also a strong resistance.
It it breaks that resistance, I expect to see $49.
If it gets rejected, it may drop to $36,5 and that go up to $50.
Only the time will tell.
I'm following this channel and it worked so far.
Considering the EU Covid Salvation deal, I see no reason for USOIL to drop hard.
I expect it to drop around $1, to $40, where the middle of the channel is.
Afterwards, I hope it goes up to $43,5. There, we have the fib and also a strong resistance.
It it breaks that resistance, I expect to see $49.
If it gets rejected, it may drop to $36,5 and that go up to $50.
Only the time will tell.