USOIL: Next Week's Strategy and Range Breakout Direction

As early as when the current pattern of the USOIL chart formed in April, I had predicted that when the price tested the support level multiple times, it would inevitably break through the existing trading range. Judging from the current trend, the reason why the market has maintained a range-bound oscillation is entirely dependent on the support of OPEC policy developments and geopolitical news. However, it should be noted that without the announcement of major positive news next week, the possibility of a bullish breakout is almost zero, so the only trend direction will be a bearish breakout.

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