Crude Oil - Change of Direction

Interesting setup on the daily chart for USOIL which appears to be trading within a descending channel, price recently broke a solid support trendline which had been holding for around 12 months.

It will be interesting to see if price respects this structure going forward.

The main purpose of this post is to highlight the key price structure within the market... Refer to this chart whether you're going long or short.

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