InvestMate 🛢️ USOIL Falling to Fibonacci Level 1.618? 🛢️

🛢️ USOIL Falling to Fibonacci Level 1.618?

🛢️ Nearest strong support zone: around recent lows.

🛢️ Nearest strong zone of resistance: around fibo level 0.382 of the upward wave.

🛢️ Technical environment:

📊 Moving averages: 50/50.

📊 MACD: Downtrend

📊 RSI: Downtrend

🛢️ Price Action: the current post is a direct follow-up to my yesterday's post on USOIL . This time I wanted us to look at a key level in my opinion from a bit higher perspective. This is the fibo level of 1.618 of the last upward wave (correction in a downtrend) Where the 1.618 level falls you can see a support zone that has been respected many times in the past. For this reason, I wanted to draw your attention especially to this level in view of the current declines. There is a high probability that the price will once again find an attachment point there.

📉 The scenario I'm playing out is a continuation of oil price declines over the coming weeks. I don't exclude the possibility of changing the scenario if the market situation changes abruptly. I'm aware of the possibility of a correction at any time, this should be taken into account, If the outlook changes I will publish a post with an update, so I encourage you to actively follow the profile and read the description carefully.

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