USOIL Rebounded From Strong Support

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By Deya Hroob


This trade setup is based on 4h chart.
 
USOIL has broken out the Head and Shoulders neckline last week to plummet and bounce back from strong support structure and from the 100-day EMA.

 Now, we have a scenario that price retests the broken neckline and decline again. If we take this trade, you should put your stop loss above the neckline. The first profit target will be the support line.

 On the flip side , the support structure may provide a good buying area with stop loss just below the support level.

 Good Luck,

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