USOIL CHART ANALYSIS – NOV 25

📊 USOIL CHART ANALYSIS – Weekly Update

📈 Technical / Naked Price Action
⚖️ Overall Sentiment: Bullish 🐂

🎲 Hello traders!
USOIL continues to move in line with our expectations. Last week, we saw Crude Oil test its yearly support zone and fail to break below. The positive Crude Oil Inventories report triggered a short-term bullish momentum, pushing prices higher.

Currently, support at $69 appears to be holding firm, and we’re closely watching for buy entries on a retest.

💡 Key Observations:

1. Bullish Outlook: This week, we may see confirmation of a bullish ABC wave move if momentum sustains.
   
2. Risk Management: While I remain focused on LONG opportunities, traders considering SELL entries should proceed cautiously and watch for signs of market reversal.
   
3. Critical Event: Keep an eye on Tuesday’s Crude Oil Inventories (EIA) report, as it will likely influence market direction this week.
   

📌 Trading Tip:
Wait for a retest of $69 support before entering long positions. Avoid forcing trades and stay disciplined in your setups.

🧠 Let’s Collaborate!
Share your trade ideas, thoughts, and charts in the ⁠💬. How do you think USOIL will play out this week? Let us know!

Best Regards,
The NFX Team™ 💚