USOIL, Long

Price has been growing in an ascending channel since price hit low @ $67.68 on December 13th, 2023. Fundamentals reported two weeks ago revealed that the Iraq refinery has been re-opened since its closure more than 10 years ago and that meant more supplies which fell the oil price from $78.69 to $75.73

The following week was met with USOIL demand where buyers picked the price from the $75.73 all the way up to $80.3 by the end of last week's market closing.

What do i expect this week??

I expect the USOIL price to retest the support and liquidity zone at $78.24 and with this holding, price could drive up to $81.95 that is if the support holds.

My Support is $78.240 and target is $81.95