RyuxFX - USOIL Bullish Reversal
Oil will see a reverse in market sentiment and make a bullish rally back to retest its reversal.
After a bearish push during the de-escalation of US - Iran war tensions, Oil has reached a level of historical weekly and daily support. We can now expect bulls to drive back into the market and push USOIL pack up towards it's last highs. This can be evidenced by the morning star candlestick formation building up on the weekly chart, with a hammer candle displaying the heavy reversal in market sentiment after price hit support.
Huge pip profit potential in this trade.
Joel Guloba
Forex Analyst / Trader
Oil will see a reverse in market sentiment and make a bullish rally back to retest its reversal.
After a bearish push during the de-escalation of US - Iran war tensions, Oil has reached a level of historical weekly and daily support. We can now expect bulls to drive back into the market and push USOIL pack up towards it's last highs. This can be evidenced by the morning star candlestick formation building up on the weekly chart, with a hammer candle displaying the heavy reversal in market sentiment after price hit support.
Huge pip profit potential in this trade.
Joel Guloba
Forex Analyst / Trader