InvestMate|USOIL A new wave of growth?🛢️

🛢️USOIL A new wave of growth?

🛢️Are we getting ready for a new wave of growth?

🛢️Everything looks like it.

🛢️Looking after the breakout of the new low and the sharp buying reaction I am leaning more and more towards an upward scenario.

🛢️We are back and currently at a very strong support zone defined by a cluster of two strong fibo levels. The first is the 0.382 level of the entire upward wave from the covid bottom to the 2022 peak. The second level is the 0.5 level of the entire upward wave from the 1986 bottom to the 2008 peak.

🛢️As you can see, the price has found support at this point many times.

🛢️Nearest significant resistance zone is around the 0.618 level of the entire downward wave from the 2008 peak to the covid bottom.

🛢️It seems very likely to me that the price will return to this area.

🛢️The scenario I am playing out is a continuation of growth from the support level to the vicinity of the resistance zones, where I will be watching closely to see how the price reacts. I am aware of the possibility of a correction at any time, this should be taken into account, If the outlook would change I will publish a post with an update, so I encourage you to actively follow the profile and read the description carefully.

🛢️ *Please do not suggest the path I have drawn with the lines this is only a hypothetical scenario.

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