USOIL is bleeding into support!

Oil appears to be selling into some key parallel channels and also forming bullish divergences. With China reopening on the horizon and the SPR at record lows I believe we should be bullish on oil. This is a medium term opinion, yet this trade could offer up a nice midterm set up as we are getting higher highs and higher lows.

Transaction en cours:

I took a long on the different support lines and doubled my position at the lows (demand zone) I was close to being stopped out, but happy to still be in this one. I have taken profit on a portion of my position.