USOIL Uptrend Line Rejection At $80.91. 11.07.2024
- Technical Setup: USOIL observed an uptrend line rejection to the upside on the 1-hour chart at $80.91.
- Upside Potential: If the rejection holds, there is a strong probability for the price to advance towards $83.24. Further breach of $83.24 could lead to an extended move towards $86.20.
- Downside Risk: Conversely, if the rejection fails, there is a high likelihood of a decline towards $79.09. A breakdown below $79.09 could potentially push the price down to $77.65.
Apply risk management
Risk Warning: Trading in CFDs is highly speculative and carries a high level of risk. It is possible to lose all of your invested capital. These products may not be suitable for everyone, and you should ensure that you fully understand the risks taking into consideration your investment objectives, level of experience, personal circumstances as well as personal resources. Speculate only with funds that you can afford to lose. Seek independent advice if necessary. Please refer to our Risk Disclosure.
BDSwiss is a trading name of BDS Markets and BDS Ltd.
BDS Markets is a company incorporated under the laws of the Republic of Mauritius and is authorized and regulated by the Financial Services Commission of Mauritius ( FSC ) under license number C116016172, address: 6th Floor, Tower 1, Nexteracom Building 72201 Ebene.
BDS Ltd is authorized and regulated by the Financial Services Authority Seychelles (FSA) under license number SD047, address: Suite 3, Global Village, Jivan’s Complex, Mont Fleuri, Mahe, Seychelles. Payment transactions are managed by BDS Markets (Registration number: 143350)
Disclaimer
- Upside Potential: If the rejection holds, there is a strong probability for the price to advance towards $83.24. Further breach of $83.24 could lead to an extended move towards $86.20.
- Downside Risk: Conversely, if the rejection fails, there is a high likelihood of a decline towards $79.09. A breakdown below $79.09 could potentially push the price down to $77.65.
Apply risk management
Risk Warning: Trading in CFDs is highly speculative and carries a high level of risk. It is possible to lose all of your invested capital. These products may not be suitable for everyone, and you should ensure that you fully understand the risks taking into consideration your investment objectives, level of experience, personal circumstances as well as personal resources. Speculate only with funds that you can afford to lose. Seek independent advice if necessary. Please refer to our Risk Disclosure.
BDSwiss is a trading name of BDS Markets and BDS Ltd.
BDS Markets is a company incorporated under the laws of the Republic of Mauritius and is authorized and regulated by the Financial Services Commission of Mauritius ( FSC ) under license number C116016172, address: 6th Floor, Tower 1, Nexteracom Building 72201 Ebene.
BDS Ltd is authorized and regulated by the Financial Services Authority Seychelles (FSA) under license number SD047, address: Suite 3, Global Village, Jivan’s Complex, Mont Fleuri, Mahe, Seychelles. Payment transactions are managed by BDS Markets (Registration number: 143350)
Disclaimer
BDSwiss Research Team: Stuart Cowell, Da-Costa Assumang, Adnan Rehman, Aldo Weidner
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Our team of renowned market analysts and professional traders work round the clock to provide up-to-the-minute market news coverage & actionable financial commentary
Disclaimer
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