USOIL Will Revisit the 110 Key Resistance Very Soon
Market Instrument: USOIL
Timeframe: Monthly
Analysis: Technical
Structure: Resistance and Continuation of Bull Run
Prediction: Bullish
USOIL is very clearly approaching the 110 Key resistance which the chart has formed for many years during the price action. If the bullish pressure remains strong and efficient this will easily revisit 110 in the next few days/week. Overall the structure is a clear W formation on the monthly timeframe.
Timeframe: Monthly
Analysis: Technical
Structure: Resistance and Continuation of Bull Run
Prediction: Bullish
USOIL is very clearly approaching the 110 Key resistance which the chart has formed for many years during the price action. If the bullish pressure remains strong and efficient this will easily revisit 110 in the next few days/week. Overall the structure is a clear W formation on the monthly timeframe.