📉 USOIL Analysis – Selling Opportunity Soon! 🚨
🔸 Trend: USOIL has been moving within a descending channel, consistently making lower highs and lower lows. This indicates a strong bearish trend 📉.
🔸 Current Position: Price is now touching the upper boundary of the channel, which acts as resistance, increasing the likelihood of a sell-off.
🔸 Indicator: EMA 50 on 2H timeframe confirms the resistance level, aligning with the descending channel structure.
🔸 Entry Level: $72.30 🔽
🔸 Target Level: $70.30 🎯
📌 Descending Channel Explained:
A descending channel is a bearish pattern where price moves between two downward-sloping trendlines. Each time price touches the upper boundary, it tends to reverse lower, making it an ideal selling opportunity at resistance levels.
⚠️ Trade Wisely! Stick to risk management. 📊🔥