🛢️ USOIL Falling to Fibonacci Level 1.618?
🛢️ Nearest strong support zone: around recent lows.
🛢️ Nearest strong zone of resistance: around fibo level 0.382 of the upward wave.
🛢️ Technical environment:
📊 Moving averages: 50/50.
📊 MACD: Downtrend
📊 RSI: Downtrend
🛢️ Price Action: the current post is a direct follow-up to my yesterday's post on USOIL . This time I wanted us to look at a key level in my opinion from a bit higher perspective. This is the fibo level of 1.618 of the last upward wave (correction in a downtrend) Where the 1.618 level falls you can see a support zone that has been respected many times in the past. For this reason, I wanted to draw your attention especially to this level in view of the current declines. There is a high probability that the price will once again find an attachment point there.
📉 The scenario I'm playing out is a continuation of oil price declines over the coming weeks. I don't exclude the possibility of changing the scenario if the market situation changes abruptly. I'm aware of the possibility of a correction at any time, this should be taken into account, If the outlook changes I will publish a post with an update, so I encourage you to actively follow the profile and read the description carefully.
🚀 If you appreciate my work and effort in this post, I encourage you to leave a like and follow on my profile. 🚀
🛢️ Nearest strong support zone: around recent lows.
🛢️ Nearest strong zone of resistance: around fibo level 0.382 of the upward wave.
🛢️ Technical environment:
📊 Moving averages: 50/50.
📊 MACD: Downtrend
📊 RSI: Downtrend
🛢️ Price Action: the current post is a direct follow-up to my yesterday's post on USOIL . This time I wanted us to look at a key level in my opinion from a bit higher perspective. This is the fibo level of 1.618 of the last upward wave (correction in a downtrend) Where the 1.618 level falls you can see a support zone that has been respected many times in the past. For this reason, I wanted to draw your attention especially to this level in view of the current declines. There is a high probability that the price will once again find an attachment point there.
📉 The scenario I'm playing out is a continuation of oil price declines over the coming weeks. I don't exclude the possibility of changing the scenario if the market situation changes abruptly. I'm aware of the possibility of a correction at any time, this should be taken into account, If the outlook changes I will publish a post with an update, so I encourage you to actively follow the profile and read the description carefully.
🚀 If you appreciate my work and effort in this post, I encourage you to leave a like and follow on my profile. 🚀
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💲 To keep up to date with all my activities I invite you to visit my Telegram 💲
💲 www.t.me/Investmatez 💲
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