USOIL 1st FEBRUARY 2023
USOIL is expected to be sideways within the ascending triangle area. The price has a possibility to reach the resistance area of the 8th touch. Breakout or rebound scenarios can occur at the touch point of the trendline, but if the price turns out to be a breakout from the support/resistance area. a big trend will likely occur. The existence of horizontal support and resistance is difficult to observe, but it is quite valid with the help of the stochastic 5 3 3 indicator where the area often rebounds.
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