USOIL approaching Support Area; Possibility of a Bounce
A series of risk-off events and equity sell-off has lead to a crash in Oil Prices.
However, price is gradually approaching a support area from where we could see a decent bounce to the upside.
The area between 40-45 is where ta bounce can happen. So, traders can look for long entries provided they see the stock market bouncing back.
However, price is gradually approaching a support area from where we could see a decent bounce to the upside.
The area between 40-45 is where ta bounce can happen. So, traders can look for long entries provided they see the stock market bouncing back.