Will This Head & Shoulder Pattern work on USOIL's chart? Not a trade idea. If Closes above 74.5 its inverse H&S pattern but on wrong trend.
Sell On USOIL/Spotcrude If close below 73 before close above 74. Minimum Target will be 71.
The trend of Gold has shifted from an uptrend to a downtrend. This upward movement started on November 10, 2022, and ended on May 18, 2023. Not a buy, sell point. Just the trend change point, better to take sell position in hourly or 4H charts.
USOIL Trend Analysis. Trend Change if daily close above $83.
USoil broke the resistance. Now that resistance is support. so it will act as strong buy for OIL.
