Another Pullback Formation On USOIL

USOIL is going through a pullback after another record bearish impulse move. Short covering and some new buyer interest is expected to take this to the 15 degrees angle lines coming from the highlighted lows. Upon meeting those angle lines, trend continuation sellers might want to give it another try towards the $50 area.

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Price is constantly declining ahead of time, signaling some urgency from the sellers. A very bearish market.