Cautious — this Chart is Slippery!

Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.

🛢️After surging by over 35% in the past two weeks, USOIL took a hit following Trump's announcement of a ceasefire between Iran and Israel.

However, from a technical perspective, USOIL is approaching a strong daily support zone marked in red.

As long as this support holds, the bulls remain in control.

📊The next bullish impulse will be confirmed upon a break above the last minor high marked in blue.

In such a scenario, a move toward the supply zone (also marked in red) would be expected.

📚 Always follow your trading plan regarding entry, risk management, and trade management.

Good luck!

All Strategies Are Good; If Managed Properly!
~Rich