UsOil H4 TF Projection
Hello Traders, here's a chart of the UsOil and right now i'm keeping a bullish bias.
Here are my reasons:
- Daily timeframe Break of structure
- H4 bullish impulse and correction into our demand zone
-Demand zone tallying with the 61.8 fib level
-Double bottom at demand zone/fib zone confluence.
I'm putting all these things together from a technical analysis POV. However, there's the fundamentals too and we see an increase in the price of gas cut across different countries since the Russian/Ukraine happenings. Could this be the fundamental backing that our technical thesis needs?
Anyways, don't take me as your single source of truth, and I hope this technical breakdown helps.
Do give us a LIKE and FOLLOW to support us in coming out with more contents.
Here are my reasons:
- Daily timeframe Break of structure
- H4 bullish impulse and correction into our demand zone
-Demand zone tallying with the 61.8 fib level
-Double bottom at demand zone/fib zone confluence.
I'm putting all these things together from a technical analysis POV. However, there's the fundamentals too and we see an increase in the price of gas cut across different countries since the Russian/Ukraine happenings. Could this be the fundamental backing that our technical thesis needs?
Anyways, don't take me as your single source of truth, and I hope this technical breakdown helps.
Do give us a LIKE and FOLLOW to support us in coming out with more contents.