**Monthly Chart**
**USOIL** is moving within a range between 94 and 63. The highest point was in Sept 2023 when it rejected the previous high of Nov 2022 and started moving lower. The lowest point was in May 2023 when it tested the low of Dec 2021 and the previous low of Aug 2021.
The long-term trend based on the monthly is bullish, whereas the short-term trend is bearish. I would like to see the price move lower to test/or break the previous low of May 2023 at around 64 -63 levels.
Last Month’s candle (Nov 2023) closed lower after it bounced from the low of the previous month's manipulation candle (MC). This confirms that the directional bias for USOIL is lower.
**Weekly Chart**
Last week candle closed as a bearish pin after bouncing from a high of around 80 level creating double tops. This confirms that bearish moves continue in the upcoming weeks.
**Daily Chart**
On 30.11.2023 the price gave a good sell entry around 79.50 level and immediately drifted lower from that point. Currently trading at 74.30 level. Next target is around 72.00 level.
**USOIL** is moving within a range between 94 and 63. The highest point was in Sept 2023 when it rejected the previous high of Nov 2022 and started moving lower. The lowest point was in May 2023 when it tested the low of Dec 2021 and the previous low of Aug 2021.
The long-term trend based on the monthly is bullish, whereas the short-term trend is bearish. I would like to see the price move lower to test/or break the previous low of May 2023 at around 64 -63 levels.
Last Month’s candle (Nov 2023) closed lower after it bounced from the low of the previous month's manipulation candle (MC). This confirms that the directional bias for USOIL is lower.
**Weekly Chart**
Last week candle closed as a bearish pin after bouncing from a high of around 80 level creating double tops. This confirms that bearish moves continue in the upcoming weeks.
**Daily Chart**
On 30.11.2023 the price gave a good sell entry around 79.50 level and immediately drifted lower from that point. Currently trading at 74.30 level. Next target is around 72.00 level.
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